Legacy Housing (NASDAQ:LEGH) Trading Down 2.3% – Here’s What Happened

Shares of Legacy Housing Co. (NASDAQ:LEGH) traded down 2.3% on Friday . The company traded as low as $25.11 and last traded at $24.84. 6,460 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 71,220 shares. The stock had previously closed at $25.41.

Legacy Housing Price Performance

The firm has a market capitalization of $627.14 million, a P/E ratio of 11.96 and a beta of 1.16. The stock has a fifty day simple moving average of $25.37 and a two-hundred day simple moving average of $25.86.

Legacy Housing (NASDAQ:LEGH) last released its quarterly earnings data on Wednesday, March 12th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. The firm had revenue of $54.19 million during the quarter, compared to the consensus estimate of $44.59 million. Legacy Housing had a return on equity of 11.85% and a net margin of 33.11%.

Insider Activity

In related news, Director Curtis Drew Hodgson sold 17,300 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $24.49, for a total transaction of $423,677.00. Following the completion of the sale, the director now owns 422,022 shares in the company, valued at approximately $10,335,318.78. This represents a 3.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 54,252 shares of company stock worth $1,332,489 over the last quarter. 30.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Legacy Housing

Several institutional investors have recently bought and sold shares of the stock. Meixler Investment Management Ltd. grew its holdings in Legacy Housing by 0.5% during the fourth quarter. Meixler Investment Management Ltd. now owns 107,440 shares of the company’s stock worth $2,652,000 after buying an additional 541 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Legacy Housing by 11.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,423 shares of the company’s stock worth $148,000 after buying an additional 543 shares during the last quarter. BNP Paribas Financial Markets grew its position in Legacy Housing by 17.8% during the third quarter. BNP Paribas Financial Markets now owns 5,600 shares of the company’s stock valued at $153,000 after buying an additional 848 shares during the period. Exchange Traded Concepts LLC grew its position in Legacy Housing by 9.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,706 shares of the company’s stock valued at $289,000 after buying an additional 1,030 shares during the period. Finally, MetLife Investment Management LLC grew its position in Legacy Housing by 18.5% during the fourth quarter. MetLife Investment Management LLC now owns 6,924 shares of the company’s stock valued at $171,000 after buying an additional 1,081 shares during the period. Institutional investors own 89.35% of the company’s stock.

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.