Cerity Partners LLC Invests $1.87 Million in Legacy Housing Co. (NASDAQ:LEGH)

Cerity Partners LLC purchased a new position in Legacy Housing Co. (NASDAQ:LEGH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 74,220 shares of the company's stock, valued at approximately $1,872,000. Cerity Partners LLC owned 0.30% of Legacy Housing at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LEGH. Two Sigma Advisers LP increased its stake in Legacy Housing by 1.5% during the third quarter. Two Sigma Advisers LP now owns 41,600 shares of the company's stock worth $713,000 after acquiring an additional 600 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Legacy Housing by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,803 shares of the company's stock worth $432,000 after buying an additional 876 shares during the last quarter. Deutsche Bank AG boosted its stake in Legacy Housing by 22.9% during the third quarter. Deutsche Bank AG now owns 5,045 shares of the company's stock worth $98,000 after buying an additional 940 shares during the period. UBS Group AG increased its position in Legacy Housing by 34.4% during the first quarter. UBS Group AG now owns 3,678 shares of the company's stock valued at $84,000 after acquiring an additional 942 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of 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 period. 89.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Legacy Housing

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 16,400 shares of the company's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $23.99, for a total transaction of $393,436.00. Following the completion of the sale, the chairman now owns 820,573 shares in the company, valued at $19,685,546.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Douglas M. Shipley sold 33,000 shares of the business's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $24.40, for a total transaction of $805,200.00. Following the completion of the transaction, the insider now owns 2,886,978 shares in the company, valued at approximately $70,442,263.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Curtis Drew Hodgson sold 16,400 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $23.99, for a total transaction of $393,436.00. Following the sale, the chairman now directly owns 820,573 shares of the company's stock, valued at approximately $19,685,546.27. The disclosure for this sale can be found here. Insiders have sold a total of 164,975 shares of company stock valued at $4,058,021 over the last ninety days. 32.20% of the stock is owned by company insiders.

Legacy Housing Trading Up 2.0 %

NASDAQ:LEGH traded up $0.40 during midday trading on Friday, hitting $19.99. The stock had a trading volume of 107,435 shares, compared to its average volume of 92,359. The company has a market capitalization of $487.78 million, a price-to-earnings ratio of 9.21 and a beta of 0.94. The company has a quick ratio of 2.00, a current ratio of 2.89 and a debt-to-equity ratio of 0.05. Legacy Housing Co. has a one year low of $17.67 and a one year high of $26.50. The stock has a 50-day moving average of $22.94 and a 200 day moving average of $22.46.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last issued its earnings results on Friday, March 15th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.49). Legacy Housing had a return on equity of 12.99% and a net margin of 28.79%. The business had revenue of $33.71 million for the quarter, compared to the consensus estimate of $60.66 million. As a group, sell-side analysts forecast that Legacy Housing Co. will post 1.72 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush lowered their price objective on shares of Legacy Housing from $31.00 to $25.00 and set an "outperform" rating for the company in a research report on Tuesday, March 19th.

About Legacy Housing

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.