Perritt Capital Management Inc. Sells 1,752 Shares of Legacy Housing Co. (NASDAQ:LEGH)

Perritt Capital Management Inc. lessened its stake in shares of Legacy Housing Co. (NASDAQ:LEGH) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,465 shares of the company’s stock after selling 1,752 shares during the period. Legacy Housing accounts for about 1.2% of Perritt Capital Management Inc.’s portfolio, making the stock its 16th biggest position. Perritt Capital Management Inc. owned about 0.35% of Legacy Housing worth $2,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Legacy Housing during the 4th quarter worth $143,000. Jump Financial LLC acquired a new stake in shares of Legacy Housing in the 4th quarter valued at $292,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Legacy Housing in the 4th quarter valued at $511,000. Gabelli Funds LLC boosted its holdings in shares of Legacy Housing by 3.5% in the 4th 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 in the last quarter. Finally, Premier Path Wealth Partners LLC acquired a new stake in shares of Legacy Housing in the 4th quarter valued at $1,220,000. Institutional investors own 89.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Legacy Housing in a report on Friday, May 10th. B. Riley raised Legacy Housing from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 14th. Finally, CJS Securities began coverage on Legacy Housing in a report on Friday, June 7th. They set an “outperform” rating and a $33.00 price objective on the stock.

Insiders Place Their Bets

In related news, Director Jeffrey Kyle Stouder bought 5,050 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were purchased at an average cost of $19.90 per share, with a total value of $100,495.00. Following the acquisition, the director now owns 11,025 shares of the company’s stock, valued at $219,397.50. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 32.20% of the company’s stock.

Legacy Housing Trading Down 2.0 %

NASDAQ LEGH opened at $22.95 on Friday. The company has a quick ratio of 2.88, a current ratio of 3.76 and a debt-to-equity ratio of 0.03. Legacy Housing Co. has a twelve month low of $17.67 and a twelve month high of $26.50. The company has a market cap of $558.14 million, a price-to-earnings ratio of 10.83 and a beta of 1.02. The business’s fifty day moving average is $22.02 and its 200 day moving average is $23.14.

Legacy Housing (NASDAQ:LEGH) 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. The company had revenue of $43.24 million for the quarter, compared to the consensus estimate 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 EPS. As a group, sell-side analysts expect that Legacy Housing Co. will post 2.34 EPS for the current fiscal year.

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.