Legacy Housing’s (LEGH) “Outperform” Rating Reiterated at Wedbush

Legacy Housing (NASDAQ:LEGH)‘s stock had its “outperform” rating restated by Wedbush in a report issued on Friday, Benzinga reports. They presently have a $25.00 target price on the stock. Wedbush’s price target indicates a potential upside of 13.07% from the company’s current price.

Legacy Housing Trading Up 4.6 %

NASDAQ:LEGH traded up $0.97 during mid-day trading on Friday, reaching $22.11. The company’s stock had a trading volume of 79,056 shares, compared to its average volume of 68,510. Legacy Housing has a twelve month low of $17.67 and a twelve month high of $26.50. The company’s fifty day simple moving average is $21.64 and its two-hundred day simple moving average is $22.59. The stock has a market cap of $539.51 million, a P/E ratio of 10.38 and a beta of 0.95. 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 (NASDAQ:LEGH) last announced 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 firm had revenue of $43.24 million during the quarter, compared to analyst estimates of $38.07 million. Legacy Housing had a return on equity of 12.99% and a net margin of 28.79%. During the same period in the previous year, the company earned $0.65 earnings per share. On average, equities analysts predict that Legacy Housing will post 1.72 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kenneth E. Shipley sold 34,000 shares of Legacy Housing stock in a transaction on Friday, February 16th. The shares were sold at an average price of $24.40, for a total transaction of $829,600.00. Following the transaction, the executive vice president now directly owns 2,892,610 shares of the company’s stock, valued at $70,579,684. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Legacy Housing news, EVP Kenneth E. Shipley sold 34,000 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Douglas M. Shipley sold 33,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $24.40, for a total transaction of $805,200.00. Following the completion of the transaction, the insider now directly owns 2,886,978 shares in the company, valued at $70,442,263.20. The disclosure for this sale can be found here. Insiders have sold 131,175 shares of company stock worth $3,259,339 over the last 90 days. Corporate insiders own 32.20% of the company’s stock.

Institutional Trading of Legacy Housing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in Legacy Housing by 79.0% in the first quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company’s stock worth $123,000 after acquiring an additional 2,520 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Legacy Housing during the fourth quarter worth about $143,000. Jump Financial LLC bought a new position in Legacy Housing in the fourth quarter worth about $292,000. Cornercap Investment Counsel Inc. purchased a new position in Legacy Housing during the fourth quarter valued at $511,000. Finally, Empowered Funds LLC increased its stake in Legacy Housing by 5.0% during the 1st quarter. Empowered Funds LLC now owns 36,902 shares of the company’s stock valued at $794,000 after purchasing an additional 1,767 shares in the last quarter. 89.35% of the stock is owned by institutional investors.

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.