Legacy Housing Corporation $LEGH Stock Sold by Redmond Asset Management LLC

Redmond Asset Management LLC decreased its position in shares of Legacy Housing Corporation (NASDAQ:LEGH) by 69.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,023 shares of the company’s stock after selling 24,732 shares during the period. Redmond Asset Management LLC’s holdings in Legacy Housing were worth $316,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LEGH. Nisa Investment Advisors LLC bought a new position in Legacy Housing during the third quarter valued at about $77,000. Legal & General Group Plc purchased a new position in shares of Legacy Housing in the second quarter worth approximately $149,000. State of Wyoming acquired a new stake in shares of Legacy Housing during the second quarter valued at approximately $169,000. Lee Financial Co acquired a new stake in shares of Legacy Housing during the third quarter valued at approximately $218,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Legacy Housing during the second quarter valued at approximately $204,000. 89.35% of the stock is currently owned by institutional investors and hedge funds.

Legacy Housing Trading Up 1.9%

Shares of Legacy Housing stock opened at $28.93 on Friday. The stock has a 50-day moving average price of $28.16 and a 200 day moving average price of $24.41. The company has a market cap of $688.04 million, a P/E ratio of 13.33 and a beta of 0.75. Legacy Housing Corporation has a 1 year low of $18.28 and a 1 year high of $31.34.

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

Analyst Ratings Changes

LEGH has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Legacy Housing from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. Wall Street Zen upgraded shares of Legacy Housing from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Finally, Zacks Research downgraded shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.00.

Legacy Housing Company Profile

Legacy Housing Corporation is a manufacturer and seller of manufactured homes. The company produces homes in a range of sizes and floor plans, including single-section and multi-section models designed for residential use. Its products are marketed under the Legacy Housing brand and are intended to provide an alternative to traditionally built housing.

The company sells manufactured homes through a combination of retail locations, independent dealers and wholesale channels. Legacy Housing also provides financing options to qualified homebuyers and dealers, supporting the purchase of its homes.