Los Angeles Capital Management LLC Cuts Holdings in Legacy Housing Co. (NASDAQ:LEGH)

Los Angeles Capital Management LLC lowered its holdings in Legacy Housing Co. (NASDAQ:LEGH) by 44.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,678 shares of the company’s stock after selling 25,409 shares during the quarter. Los Angeles Capital Management LLC owned 0.13% of Legacy Housing worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Premier Path Wealth Partners LLC increased its holdings in Legacy Housing by 2.3% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 47,783 shares of the company’s stock worth $1,096,000 after buying an additional 1,083 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Legacy Housing in the second quarter worth approximately $28,000. Gabelli Funds LLC raised its holdings in shares of Legacy Housing by 3.5% during the fourth quarter. Gabelli Funds LLC now owns 47,327 shares of the company’s stock valued at $1,194,000 after purchasing an additional 1,600 shares during the last quarter. Empowered Funds LLC lifted its position in Legacy Housing by 5.0% during the first quarter. Empowered Funds LLC now owns 36,902 shares of the company’s stock valued at $794,000 after purchasing an additional 1,767 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in Legacy Housing in the first quarter worth approximately $45,000. 89.35% of the stock is owned by institutional investors.

Legacy Housing Trading Up 4.1 %

Shares of Legacy Housing stock opened at $28.23 on Friday. Legacy Housing Co. has a 1-year low of $17.67 and a 1-year high of $29.31. The company’s fifty day simple moving average is $26.23 and its 200-day simple moving average is $23.74. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 3.41. The stock has a market capitalization of $686.44 million, a PE ratio of 13.32 and a beta of 1.08.

Legacy Housing (NASDAQ:LEGH) last released its earnings results on Thursday, August 8th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. Legacy Housing had a net margin of 32.17% and a return on equity of 12.25%. The company had revenue of $42.50 million during the quarter, compared to analyst estimates of $46.35 million. During the same period in the prior year, the firm posted $0.60 EPS. As a group, equities analysts anticipate that Legacy Housing Co. will post 2.55 earnings per share for the current year.

Insider Transactions at Legacy Housing

In related news, Chairman Curtis Drew Hodgson sold 13,387 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $27.73, for a total value of $371,221.51. Following the completion of the transaction, the chairman now owns 684,486 shares of the company’s stock, valued at approximately $18,980,796.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 47,987 shares of company stock valued at $1,266,151 over the last three months. Corporate insiders own 32.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $29.00 target price on shares of Legacy Housing in a research note on Friday, August 9th. CJS Securities assumed coverage on Legacy Housing in a report on Friday, June 7th. They issued an “outperform” rating and a $33.00 target price on the stock. Finally, B. Riley restated a “neutral” rating and set a $29.00 price target (up from $25.00) on shares of Legacy Housing in a research note on Monday, August 12th.

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.