ABS Direct Equity Fund LLC Buys Shares of 50,000 Legacy Housing Co. (NASDAQ:LEGH)

ABS Direct Equity Fund LLC bought a new stake in shares of Legacy Housing Co. (NASDAQ:LEGH) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 50,000 shares of the company’s stock, valued at approximately $1,261,000. ABS Direct Equity Fund LLC owned approximately 0.21% of Legacy Housing at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Legacy Housing in the 4th quarter valued at approximately $143,000. Cornercap Investment Counsel Inc. bought a new stake in shares of Legacy Housing in the 4th quarter valued at approximately $511,000. Premier Path Wealth Partners LLC bought a new stake in shares of Legacy Housing in the 4th quarter valued at approximately $1,220,000. Bank of New York Mellon Corp grew its stake in shares of Legacy Housing by 2.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 50,071 shares of the company’s stock valued at $972,000 after buying an additional 1,092 shares in the last quarter. Finally, Brandywine Global Investment Management LLC grew its stake in shares of Legacy Housing by 26.1% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 62,853 shares of the company’s stock valued at $1,220,000 after buying an additional 13,023 shares in the last quarter. Institutional investors own 89.35% of the company’s stock.

Insider Buying and Selling

In related news, Director Jeffrey Kyle Stouder bought 5,050 shares of Legacy Housing stock in a transaction that occurred on Tuesday, March 26th. The stock was purchased at an average cost of $19.90 per share, for a total transaction of $100,495.00. Following the acquisition, the director now owns 11,025 shares in the company, valued at $219,397.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Legacy Housing news, Director Jeffrey Kyle Stouder purchased 5,050 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average cost of $19.90 per share, for a total transaction of $100,495.00. Following the completion of the acquisition, the director now directly owns 11,025 shares in the company, valued at $219,397.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Curtis Drew Hodgson sold 17,400 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.57, for a total value of $444,918.00. Following the transaction, the chairman now owns 784,773 shares of the company’s stock, valued at $20,066,645.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,175 shares of company stock worth $3,259,339. 32.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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 note on Tuesday, March 19th.

Legacy Housing Stock Performance

LEGH traded up $0.29 on Friday, hitting $21.27. The company had a trading volume of 60,406 shares, compared to its average volume of 71,436. The company’s fifty day moving average price is $21.98 and its 200 day moving average price is $22.55. Legacy Housing Co. has a 1-year low of $17.67 and a 1-year high of $26.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.00. The stock has a market cap of $518.99 million, a price-to-earnings ratio of 9.80 and a beta of 0.95.

Legacy Housing (NASDAQ:LEGH) last posted its earnings results on Friday, March 15th. The company reported $0.28 earnings per share 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 company had revenue of $33.71 million during the quarter, compared to analyst estimates of $60.66 million. Equities analysts predict that Legacy Housing Co. will post 1.72 earnings per share for the current fiscal year.

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.