Legacy Housing (NASDAQ:LEGH) Sees Large Volume Increase – Here’s Why

Legacy Housing Co. (NASDAQ:LEGH) saw unusually-strong trading volume on Tuesday . Approximately 159,463 shares were traded during trading, an increase of 155% from the previous session’s volume of 62,571 shares.The stock last traded at $27.15 and had previously closed at $27.30.

Legacy Housing Price Performance

The stock has a market capitalization of $667.98 million, a P/E ratio of 12.74 and a beta of 1.09. The business’s 50 day moving average price is $24.91 and its 200 day moving average price is $25.97.

Insider Activity at Legacy Housing

In other news, Chairman Curtis Drew Hodgson sold 17,300 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $26.53, for a total transaction of $458,969.00. Following the completion of the sale, the chairman now owns 491,222 shares of the company’s stock, valued at $13,032,119.66. The trade was a 3.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders sold 123,952 shares of company stock worth $3,137,319. 30.60% of the stock is owned by insiders.

Institutional Trading of Legacy Housing

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS purchased a new stake in Legacy Housing in the 4th quarter worth approximately $49,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Legacy Housing during the 3rd quarter valued at $85,000. SG Americas Securities LLC bought a new position in Legacy Housing in the 3rd quarter worth $121,000. JPMorgan Chase & Co. increased its stake in Legacy Housing by 11.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,423 shares of the company’s stock worth $148,000 after buying an additional 543 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Legacy Housing by 17.8% during the third quarter. BNP Paribas Financial Markets now owns 5,600 shares of the company’s stock valued at $153,000 after acquiring an additional 848 shares during the period. Hedge funds and other institutional investors own 89.35% 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.