Assenagon Asset Management S.A. Makes New Investment in Legacy Housing Co. (NASDAQ:LEGH)

Assenagon Asset Management S.A. purchased a new stake in shares of Legacy Housing Co. (NASDAQ:LEGH) during the third quarter, Holdings Channel.com reports. The firm purchased 13,354 shares of the company’s stock, valued at approximately $365,000.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Legacy Housing by 17.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 609,217 shares of the company’s stock valued at $13,975,000 after purchasing an additional 88,921 shares during the period. Vanguard Group Inc. raised its position in Legacy Housing by 5.2% during the first quarter. Vanguard Group Inc. now owns 441,383 shares of the company’s stock valued at $9,499,000 after buying an additional 21,995 shares during the period. American Century Companies Inc. lifted its stake in Legacy Housing by 1.1% in the 2nd quarter. American Century Companies Inc. now owns 180,736 shares of the company’s stock worth $4,146,000 after acquiring an additional 2,014 shares in the last quarter. SG Capital Management LLC acquired a new stake in Legacy Housing during the 1st quarter worth about $1,532,000. Finally, Bank of New York Mellon Corp grew its stake in Legacy Housing by 7.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 59,517 shares of the company’s stock valued at $1,365,000 after acquiring an additional 4,287 shares in the last quarter. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Insider Activity

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 17,300 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $25.20, for a total transaction of $435,960.00. Following the transaction, the chairman now directly owns 560,041 shares of the company’s stock, valued at $14,113,033.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 143,327 shares of company stock worth $3,819,364. 32.20% of the stock is owned by corporate insiders.

Legacy Housing Stock Performance

Shares of LEGH stock opened at $25.67 on Monday. Legacy Housing Co. has a fifty-two week low of $18.00 and a fifty-two week high of $29.31. The stock’s 50-day moving average is $26.65 and its two-hundred day moving average is $24.80. 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 firm has a market cap of $624.29 million, a P/E ratio of 11.83 and a beta of 1.10.

Legacy Housing (NASDAQ:LEGH) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. The firm had revenue of $42.50 million for the quarter, compared to analyst estimates of $46.35 million. Legacy Housing had a net margin of 32.17% and a return on equity of 12.25%. During the same quarter last year, the firm earned $0.60 earnings per share. Analysts predict that Legacy Housing Co. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LEGH has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $29.00 price target on shares of Legacy Housing in a research report on Friday, August 9th. B. Riley reiterated a “neutral” rating and issued a $29.00 target price (up previously from $25.00) on shares of Legacy Housing in a research report on Monday, August 12th.

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.