Cornercap Investment Counsel Inc. Takes Position in Legacy Housing Co. (NASDAQ:LEGH)

Cornercap Investment Counsel Inc. bought a new stake in Legacy Housing Co. (NASDAQ:LEGH) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 20,260 shares of the company’s stock, valued at approximately $511,000. Cornercap Investment Counsel Inc. owned about 0.08% of Legacy Housing at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Cerity Partners LLC acquired a new position in Legacy Housing in the fourth quarter valued at about $1,872,000. Premier Path Wealth Partners LLC purchased a new stake in Legacy Housing during the fourth quarter worth about $1,220,000. SG Americas Securities LLC purchased a new stake in Legacy Housing during the fourth quarter worth about $143,000. American Century Companies Inc. increased its stake in Legacy Housing by 25.1% during the third quarter. American Century Companies Inc. now owns 128,468 shares of the company’s stock worth $2,494,000 after purchasing an additional 25,775 shares during the period. Finally, Deutsche Bank AG increased its stake in Legacy Housing by 22.9% during the third quarter. Deutsche Bank AG now owns 5,045 shares of the company’s stock worth $98,000 after purchasing an additional 940 shares during the period. Institutional investors and hedge funds own 89.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush cut their price target on shares of Legacy Housing from $31.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 19th.

Insider Buying and Selling

In other news, Director Jeffrey Kyle Stouder bought 5,050 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average cost of $19.90 per share, for a total transaction of $100,495.00. Following the completion of the purchase, the director now owns 11,025 shares of the company’s stock, valued at $219,397.50. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Legacy Housing news, EVP Kenneth E. Shipley sold 34,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $24.40, for a total value of $829,600.00. Following the transaction, the executive vice president now directly owns 2,892,610 shares in the company, valued at $70,579,684. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Kyle Stouder purchased 5,050 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $19.90 per share, for a total transaction of $100,495.00. Following the completion of the purchase, the director now directly owns 11,025 shares of the company’s stock, valued at $219,397.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 164,975 shares of company stock worth $4,058,021. Company insiders own 32.20% of the company’s stock.

Legacy Housing Stock Down 1.0 %

Shares of NASDAQ:LEGH opened at $19.92 on Wednesday. The firm’s 50-day moving average is $23.37 and its two-hundred day moving average is $22.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.00. Legacy Housing Co. has a 1 year low of $17.67 and a 1 year high of $26.50. The firm has a market capitalization of $486.05 million, a PE ratio of 9.18 and a beta of 0.94.

Legacy Housing (NASDAQ:LEGH) last released its earnings results on Friday, March 15th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.49). Legacy Housing had a return on equity of 12.99% and a net margin of 28.79%. The firm had revenue of $33.71 million for the quarter, compared to analysts’ expectations of $60.66 million. Analysts predict that Legacy Housing Co. will post 1.72 EPS for the current year.

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.