Legacy Housing (NASDAQ:LEGH) Sets New 12-Month Low – Time to Sell?

Legacy Housing Co. (NASDAQ:LEGH)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $17.00 and last traded at $24.02, with a volume of 497 shares. The stock had previously closed at $25.24.

Legacy Housing Stock Performance

The company has a market capitalization of $568.60 million, a price-to-earnings ratio of 10.94 and a beta of 1.16. The firm’s 50 day simple moving average is $25.85 and its 200-day simple moving average is $25.79.

Legacy Housing (NASDAQ:LEGH) last posted its earnings results on Wednesday, March 12th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. The firm had revenue of $54.19 million during the quarter, compared to analysts’ expectations of $44.59 million. Legacy Housing had a net margin of 33.11% and a return on equity of 11.85%.

Insider Buying and Selling at Legacy Housing

In related news, Director Curtis Drew Hodgson sold 10,468 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $23.65, for a total value of $247,568.20. Following the completion of the transaction, the director now owns 394,254 shares of the company’s stock, valued at $9,324,107.10. This represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 30.60% of the company’s stock.

Institutional Investors Weigh In On Legacy Housing

Several institutional investors and hedge funds have recently made changes to their positions in LEGH. Aquatic Capital Management LLC acquired a new position in Legacy Housing during the 4th quarter worth $33,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Legacy Housing in the 4th quarter valued at about $49,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Legacy Housing during the third quarter worth $85,000. JPMorgan Chase & Co. increased its position in shares of Legacy Housing by 11.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,423 shares of the company’s stock worth $148,000 after purchasing an additional 543 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Legacy Housing by 17.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,600 shares of the company’s stock valued at $153,000 after purchasing an additional 848 shares during the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.

About Legacy Housing

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.