B. Riley Comments on Legacy Housing Co.'s Q2 2024 Earnings (NASDAQ:LEGH)

Legacy Housing Co. (NASDAQ:LEGH - Free Report) - Research analysts at B. Riley lifted their Q2 2024 earnings per share (EPS) estimates for Legacy Housing in a research note issued on Tuesday, May 14th. B. Riley analyst A. Rygiel now expects that the company will post earnings of $0.59 per share for the quarter, up from their previous forecast of $0.47. B. Riley has a "Strong-Buy" rating on the stock. The consensus estimate for Legacy Housing's current full-year earnings is $1.72 per share. B. Riley also issued estimates for Legacy Housing's Q3 2024 earnings at $0.60 EPS and Q4 2024 earnings at $0.53 EPS.

Separately, Wedbush reissued an "outperform" rating and set a $25.00 price target on shares of Legacy Housing in a research report on Friday, May 10th.

Legacy Housing Trading Up 1.0 %

NASDAQ LEGH traded up $0.25 during mid-day trading on Wednesday, hitting $24.15. The company's stock had a trading volume of 120,879 shares, compared to its average volume of 73,409. The stock's fifty day simple moving average is $21.51 and its two-hundred day simple moving average is $22.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.76 and a quick ratio of 2.88. Legacy Housing has a 52-week low of $17.67 and a 52-week high of $26.50. The firm has a market capitalization of $587.33 million, a P/E ratio of 11.39 and a beta of 0.95.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.24. The business had revenue of $43.24 million during the quarter, compared to analysts' expectations of $38.07 million. Legacy Housing had a return on equity of 12.33% and a net margin of 29.70%. During the same quarter last year, the business posted $0.65 earnings per share.

Insiders Place Their Bets

In other news, Director Jeffrey Kyle Stouder bought 5,050 shares of the stock in a transaction on Tuesday, March 26th. The shares were purchased at an average price of $19.90 per share, for a total transaction of $100,495.00. Following the completion of the purchase, the director now directly owns 11,025 shares of the company's stock, valued at approximately $219,397.50. The purchase was disclosed in a filing with the SEC, which is available through this link. In other Legacy Housing news, Director Jeffrey Kyle Stouder purchased 5,050 shares of the business's stock in a transaction dated Tuesday, March 26th. The stock was bought at an average cost of $19.90 per share, for a total transaction of $100,495.00. Following the completion of the acquisition, the director now directly owns 11,025 shares in the company, valued at $219,397.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kenneth E. Shipley sold 34,000 shares of Legacy Housing stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $24.40, for a total value of $829,600.00. Following the sale, the executive vice president now directly owns 2,892,610 shares in the company, valued at approximately $70,579,684. The disclosure for this sale can be found here. Insiders sold a total of 113,775 shares of company stock worth $2,814,421 over the last ninety days. 32.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Legacy Housing

Several hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in Legacy Housing by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 50,071 shares of the company's stock valued at $972,000 after acquiring an additional 1,092 shares during the last quarter. Meixler Investment Management Ltd. increased its holdings in shares of Legacy Housing by 16.7% during the third quarter. Meixler Investment Management Ltd. now owns 129,499 shares of the company's stock valued at $2,514,000 after acquiring an additional 18,524 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in Legacy Housing by 26.1% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 62,853 shares of the company's stock valued at $1,220,000 after buying an additional 13,023 shares during the last quarter. AWH Capital L.P. lifted its holdings in Legacy Housing by 71.3% during the third quarter. AWH Capital L.P. now owns 225,000 shares of the company's stock worth $4,367,000 after acquiring an additional 93,630 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Legacy Housing in the fourth quarter valued at approximately $143,000. 89.35% of the stock is owned by institutional investors.

Legacy Housing Company Profile

Legacy Housing Corporation engages in the building, sale, and financing of manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides for the transport of mobile homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.