Assenagon Asset Management S.A. Makes New Investment in Legacy Housing Co. (NASDAQ:LEGH)

Assenagon Asset Management S.A. purchased a new position in Legacy Housing Co. (NASDAQ:LEGH) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,354 shares of the company’s stock, valued at approximately $365,000. Assenagon Asset Management S.A. owned about 0.05% of Legacy Housing as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC bought a new position in Legacy Housing in the second quarter worth about $28,000. EntryPoint Capital LLC acquired a new position in Legacy Housing during the 1st quarter valued at approximately $45,000. SG Americas Securities LLC acquired a new position in Legacy Housing during the 3rd quarter valued at approximately $121,000. BNP Paribas Financial Markets grew its stake in Legacy Housing by 79.0% during the 1st quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company’s stock worth $123,000 after buying an additional 2,520 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Legacy Housing in the first quarter valued at $245,000. 89.35% of the stock is owned by institutional investors and hedge funds.

Legacy Housing Stock Performance

Shares of LEGH opened at $25.67 on Monday. Legacy Housing Co. has a 52-week low of $18.00 and a 52-week high of $29.31. The firm has a market capitalization of $624.29 million, a PE ratio of 11.83 and a beta of 1.10. The firm has a 50-day moving average price of $26.65 and a 200 day moving average price of $24.80. The company has a quick ratio of 3.41, a current ratio of 4.39 and a debt-to-equity ratio of 0.03.

Legacy Housing (NASDAQ:LEGH) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $42.50 million for the quarter, compared to analyst estimates of $46.35 million. Legacy Housing had a net margin of 32.17% and a return on equity of 12.25%. During the same quarter last year, the business earned $0.60 earnings per share. On average, sell-side analysts anticipate that Legacy Housing Co. will post 2.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. B. Riley reiterated a “neutral” rating and issued a $29.00 price objective (up from $25.00) on shares of Legacy Housing in a research report on Monday, August 12th. Wedbush reaffirmed an “outperform” rating and set a $29.00 price target on shares of Legacy Housing in a report on Friday, August 9th.

Insider Transactions at Legacy Housing

In related news, Chairman Curtis Drew Hodgson sold 17,300 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $26.08, for a total transaction of $451,184.00. Following the completion of the transaction, the chairman now owns 697,873 shares of the company’s stock, valued at $18,200,527.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 143,327 shares of company stock valued at $3,819,364. Corporate insiders own 32.20% of the company’s stock.

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.