Brandywine Global Investment Management LLC Sells 2,900 Shares of Legacy Housing Corporation $LEGH

Brandywine Global Investment Management LLC lowered its stake in shares of Legacy Housing Corporation (NASDAQ:LEGH) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,960 shares of the company’s stock after selling 2,900 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.32% of Legacy Housing worth $1,721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in shares of Legacy Housing in the first quarter worth about $116,000. Strs Ohio bought a new position in Legacy Housing in the 1st quarter worth approximately $124,000. Jump Financial LLC acquired a new position in Legacy Housing during the 1st quarter worth $329,000. PDT Partners LLC lifted its holdings in Legacy Housing by 29.0% during the 1st quarter. PDT Partners LLC now owns 19,879 shares of the company’s stock worth $501,000 after buying an additional 4,464 shares in the last quarter. Finally, Nuveen LLC bought a new position in Legacy Housing in the 1st quarter valued at $545,000. Institutional investors and hedge funds own 89.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LEGH shares. Zacks Research downgraded Legacy Housing from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Legacy Housing in a report on Monday, November 17th. B. Riley cut their target price on shares of Legacy Housing from $26.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Finally, CJS Securities cut shares of Legacy Housing from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, November 11th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $21.00.

Legacy Housing Trading Down 1.2%

Shares of LEGH opened at $19.16 on Tuesday. The stock has a market cap of $457.35 million, a P/E ratio of 9.83 and a beta of 0.80. Legacy Housing Corporation has a 1 year low of $18.86 and a 1 year high of $29.45. The stock’s 50-day moving average price is $23.42 and its two-hundred day moving average price is $23.87.

Legacy Housing (NASDAQ:LEGH) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.22). The firm had revenue of $40.48 million during the quarter, compared to analyst estimates of $45.53 million. Legacy Housing had a net margin of 26.66% and a return on equity of 9.47%.

Legacy Housing 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.