Assenagon Asset Management S.A. Makes New $698,000 Investment in Legacy Housing Corporation $LEGH

Assenagon Asset Management S.A. purchased a new stake in shares of Legacy Housing Corporation (NASDAQ:LEGH) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 25,389 shares of the company’s stock, valued at approximately $698,000. Assenagon Asset Management S.A. owned approximately 0.11% of Legacy Housing as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of LEGH. Tower Research Capital LLC TRC increased its holdings in Legacy Housing by 414.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock valued at $55,000 after buying an additional 1,940 shares during the period. Quantbot Technologies LP purchased a new position in shares of Legacy Housing in the 1st quarter valued at $116,000. Strs Ohio bought a new position in shares of Legacy Housing in the 1st quarter worth $124,000. AWH Capital L.P. purchased a new stake in shares of Legacy Housing during the 2nd quarter worth $172,000. Finally, Legal & General Group Plc boosted its position in Legacy Housing by 15.7% during the second quarter. Legal & General Group Plc now owns 8,958 shares of the company’s stock valued at $203,000 after purchasing an additional 1,216 shares in the last quarter. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Legacy Housing Stock Up 0.7%

Shares of LEGH stock opened at $19.88 on Friday. Legacy Housing Corporation has a 52-week low of $18.83 and a 52-week high of $29.45. The stock has a market cap of $474.42 million, a PE ratio of 10.19 and a beta of 0.80. The business has a 50-day simple moving average of $20.98 and a 200-day simple moving average of $23.41.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. CJS Securities lowered shares of Legacy Housing from a “market outperform” rating to a “market perform” rating in a report on Tuesday, November 11th. B. Riley dropped their target price on Legacy Housing from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Legacy Housing in a research report on Monday. Finally, Zacks Research cut Legacy Housing from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Legacy Housing has a consensus rating of “Reduce” and an average target price of $21.00.

Legacy Housing Profile

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.