Legacy Housing (NASDAQ:LEGH) Shares Gap Up Following Earnings Beat

Legacy Housing Co. (NASDAQ:LEGH) shares gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $24.75, but opened at $26.30. Legacy Housing shares last traded at $27.51, with a volume of 8,135 shares changing hands.

The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.52 by $0.07. Legacy Housing had a return on equity of 11.85% and a net margin of 33.11%. The business had revenue of $54.19 million for the quarter, compared to the consensus estimate of $44.59 million.

Insider Transactions at Legacy Housing

In other news, Director Curtis Drew Hodgson sold 10,468 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $23.65, for a total value of $247,568.20. Following the transaction, the director now owns 394,254 shares in the company, valued at $9,324,107.10. This represents a 2.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 54,252 shares of company stock worth $1,332,489. Insiders own 30.60% of the company’s stock.

Hedge Funds Weigh In On Legacy Housing

Large investors have recently made changes to their positions in the business. Advisory Research Inc. grew its position in shares of Legacy Housing by 34.0% in the fourth quarter. Advisory Research Inc. now owns 472,935 shares of the company’s stock valued at $11,672,000 after purchasing an additional 120,000 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Legacy Housing in the 3rd quarter worth approximately $3,211,000. Cerity Partners LLC raised its holdings in shares of Legacy Housing by 141.3% in the 3rd quarter. Cerity Partners LLC now owns 178,276 shares of the company’s stock worth $4,876,000 after buying an additional 104,386 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Legacy Housing by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 623,287 shares of the company’s stock valued at $15,383,000 after acquiring an additional 80,982 shares during the last quarter. Finally, Voss Capital LP raised its stake in shares of Legacy Housing by 8.7% in the fourth quarter. Voss Capital LP now owns 928,599 shares of the company’s stock valued at $22,918,000 after acquiring an additional 74,087 shares during the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.

Legacy Housing Price Performance

The business’s 50 day moving average price is $25.33 and its 200-day moving average price is $25.87. The company has a market cap of $613.85 million, a P/E ratio of 11.71 and a beta of 1.16.

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.