Punch & Associates Investment Management Inc. Takes $11.23 Million Position in Legacy Housing Corporation $LEGH

Punch & Associates Investment Management Inc. purchased a new stake in Legacy Housing Corporation (NASDAQ:LEGH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 427,665 shares of the company’s stock, valued at approximately $11,235,000. Punch & Associates Investment Management Inc. owned about 1.80% of Legacy Housing as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LEGH. Quarry LP acquired a new position in shares of Legacy Housing in the third quarter valued at approximately $26,000. Tower Research Capital LLC TRC grew its stake in shares of Legacy Housing by 414.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock worth $55,000 after acquiring an additional 1,940 shares in the last quarter. Strs Ohio purchased a new stake in shares of Legacy Housing during the first quarter worth $124,000. Aquatic Capital Management LLC increased its position in shares of Legacy Housing by 2,156.0% during the third quarter. Aquatic Capital Management LLC now owns 4,873 shares of the company’s stock worth $134,000 after acquiring an additional 4,657 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Legacy Housing in the second quarter valued at $149,000. 89.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LEGH has been the topic of several recent analyst reports. B. Riley Financial reissued a “neutral” rating on shares of Legacy Housing in a report on Thursday, May 14th. Weiss Ratings raised Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Zacks Research downgraded Legacy Housing from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen cut Legacy Housing from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Legacy Housing has an average rating of “Hold” and an average target price of $21.00.

Legacy Housing Trading Down 1.3%

Legacy Housing stock opened at $28.55 on Thursday. The stock has a 50 day moving average of $26.93 and a two-hundred day moving average of $23.56. Legacy Housing Corporation has a twelve month low of $18.28 and a twelve month high of $31.34. The stock has a market capitalization of $678.98 million, a price-to-earnings ratio of 13.16 and a beta of 0.78.

Legacy Housing (NASDAQ:LEGH) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.27. Legacy Housing had a net margin of 28.56% and a return on equity of 9.53%. The business had revenue of $66.35 million for the quarter, compared to analyst estimates of $64.08 million. Equities analysts predict that Legacy Housing Corporation will post 2.32 earnings per share for the current year.

About Legacy Housing

Legacy Housing Corp. designs, builds and markets factory-built homes, focusing on both single-section and multi-section manufactured housing products. The company offers a range of floor plans and customization options, including energy-efficient features and accessible design elements. Its core business activities encompass in-house design, procurement of building materials, plant-based construction and nationwide distribution through an independent network of retail partners.

Founded in 2009 and headquartered in Dallas, Texas, Legacy Housing operates in key regions across the southeastern and southwestern United States.