Exchange Traded Concepts LLC Invests $292,000 in Legacy Housing Co. (NASDAQ:LEGH)

Exchange Traded Concepts LLC purchased a new position in Legacy Housing Co. (NASDAQ:LEGH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,676 shares of the company’s stock, valued at approximately $292,000.

A number of other hedge funds also recently modified their holdings of LEGH. Dimensional Fund Advisors LP increased its position in shares of Legacy Housing by 17.1% in the second quarter. Dimensional Fund Advisors LP now owns 609,217 shares of the company’s stock worth $13,975,000 after purchasing an additional 88,921 shares during the period. SG Capital Management LLC bought a new position in shares of Legacy Housing in the first quarter worth $1,532,000. Progeny 3 Inc. bought a new position in shares of Legacy Housing in the second quarter worth $1,019,000. Renaissance Technologies LLC increased its position in shares of Legacy Housing by 161.0% in the second quarter. Renaissance Technologies LLC now owns 40,200 shares of the company’s stock worth $922,000 after purchasing an additional 24,800 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Legacy Housing by 5.2% in the first quarter. Vanguard Group Inc. now owns 441,383 shares of the company’s stock worth $9,499,000 after purchasing an additional 21,995 shares during the period. Institutional investors own 89.35% of the company’s stock.

Analysts Set New Price Targets

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

Legacy Housing Stock Performance

Legacy Housing stock opened at $27.25 on Monday. Legacy Housing Co. has a 12-month low of $17.67 and a 12-month high of $29.31. The company has a quick ratio of 3.41, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $26.80 and its two-hundred day moving average price is $24.46. The stock has a market cap of $662.61 million, a PE ratio of 12.85 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, beating analysts’ consensus estimates of $0.58 by $0.07. Legacy Housing had a return on equity of 12.25% and a net margin of 32.17%. The firm had revenue of $42.50 million for the quarter, compared to analysts’ expectations of $46.35 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. As a group, analysts expect that Legacy Housing Co. will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Legacy Housing

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 11,442 shares of Legacy Housing stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.01, for a total value of $320,490.42. Following the transaction, the chairman now owns 653,699 shares in the company, valued at $18,310,108.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 124,727 shares of company stock worth $3,348,278 over the last 90 days. Insiders own 32.20% of the company’s stock.

Legacy Housing 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.