Legacy Housing (NASDAQ:LEGH) Receives "Outperform" Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Legacy Housing (NASDAQ:LEGH - Free Report) in a research report released on Friday, Benzinga reports. They currently have a $25.00 target price on the stock.

Legacy Housing Stock Up 10.7 %

Shares of LEGH stock traded up $2.27 on Friday, hitting $23.41. The stock had a trading volume of 343,225 shares, compared to its average volume of 71,504. The company has a quick ratio of 2.00, a current ratio of 2.89 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $21.64 and a 200 day moving average price of $22.59. The company has a market cap of $571.23 million, a PE ratio of 10.38 and a beta of 0.95. Legacy Housing has a one year low of $17.67 and a one year high of $26.50.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.24. Legacy Housing had a return on equity of 12.99% and a net margin of 28.79%. The firm had revenue of $43.24 million during the quarter, compared to the consensus estimate of $38.07 million. During the same period in the previous year, the company posted $0.65 earnings per share. Research analysts anticipate that Legacy Housing will post 1.72 earnings per share for the current fiscal year.

Insider Transactions at Legacy Housing

In related news, Chairman Curtis Drew Hodgson sold 17,400 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.57, for a total value of $444,918.00. Following the sale, the chairman now owns 784,773 shares in the company, valued at $20,066,645.61. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Legacy Housing news, EVP Kenneth E. Shipley sold 34,000 shares of the business's 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 completion of the transaction, the executive vice president now directly owns 2,892,610 shares of the company's stock, valued at $70,579,684. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Curtis Drew Hodgson sold 17,400 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.57, for a total value of $444,918.00. Following the completion of the transaction, the chairman now directly owns 784,773 shares of the company's stock, valued at $20,066,645.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,175 shares of company stock worth $3,259,339. Insiders own 32.20% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LEGH. AWH Capital L.P. increased its position in shares of 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 purchasing an additional 93,630 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Legacy Housing during the fourth quarter worth approximately $1,872,000. ABS Direct Equity Fund LLC purchased a new stake in shares of Legacy Housing during the fourth quarter worth approximately $1,261,000. Voss Capital LLC increased its position in shares of Legacy Housing by 6.4% during the fourth quarter. Voss Capital LLC now owns 830,000 shares of the company's stock worth $20,933,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Premier Path Wealth Partners LLC purchased a new stake in shares of Legacy Housing during the fourth quarter worth approximately $1,220,000. 89.35% of the stock is owned by institutional investors and hedge funds.

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.