Short Interest in Legacy Housing Co. (NASDAQ:LEGH) Rises By 62.2%

Legacy Housing Co. (NASDAQ:LEGH) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 396,700 shares, an increase of 62.2% from the March 15th total of 244,600 shares. Based on an average trading volume of 68,000 shares, the days-to-cover ratio is presently 5.8 days. Currently, 3.9% of the company’s shares are sold short.

Insiders Place Their Bets

In other Legacy Housing news, Director Jeffrey Kyle Stouder bought 5,050 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $19.90 per share, with a total value of $100,495.00. Following the completion of the purchase, the director now directly owns 11,025 shares in the company, valued at $219,397.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Legacy Housing news, Director Jeffrey Kyle Stouder bought 5,050 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $19.90 per share, with a total value of $100,495.00. Following the completion of the purchase, the director now directly owns 11,025 shares in the company, valued at $219,397.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Curtis Drew Hodgson sold 7,400 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $23.53, for a total value of $174,122.00. Following the sale, the chairman now directly owns 854,373 shares of the company’s stock, valued at approximately $20,103,396.69. The disclosure for this sale can be found here. Insiders sold a total of 172,375 shares of company stock valued at $4,232,143 over the last quarter. 32.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LEGH. Punch & Associates Investment Management Inc. boosted its holdings in Legacy Housing by 42.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 477,805 shares of the company’s stock valued at $10,875,000 after purchasing an additional 143,313 shares during the period. Royal Bank of Canada boosted its holdings in Legacy Housing by 418.6% in the fourth quarter. Royal Bank of Canada now owns 153,593 shares of the company’s stock valued at $3,874,000 after purchasing an additional 123,978 shares during the period. AWH Capital L.P. boosted its holdings in Legacy Housing by 71.3% in the third quarter. AWH Capital L.P. now owns 225,000 shares of the company’s stock valued at $4,367,000 after purchasing an additional 93,630 shares during the period. Millennium Management LLC boosted its holdings in Legacy Housing by 221.2% in the second quarter. Millennium Management LLC now owns 122,438 shares of the company’s stock valued at $1,598,000 after purchasing an additional 84,324 shares during the period. Finally, Cerity Partners LLC purchased a new position in Legacy Housing in the fourth quarter valued at $1,872,000. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wedbush lowered their price target on Legacy Housing from $31.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th.

Legacy Housing Trading Down 0.6 %

LEGH opened at $20.29 on Friday. Legacy Housing has a 52 week low of $17.67 and a 52 week high of $26.50. The business has a fifty day simple moving average of $23.54 and a 200-day simple moving average of $22.41. The firm has a market cap of $495.08 million, a P/E ratio of 9.35 and a beta of 0.94. The company has a quick ratio of 2.00, a current ratio of 2.89 and a debt-to-equity ratio of 0.05.

Legacy Housing (NASDAQ:LEGH) last released its quarterly earnings results on Friday, March 15th. The company reported $0.28 EPS for the quarter, missing the consensus estimate 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. On average, equities analysts expect that Legacy Housing will post 1.72 earnings per share 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.