FY2024 EPS Estimates for Legacy Housing Lifted by B. Riley

Legacy Housing Co. (NASDAQ:LEGH) – Investment analysts at B. Riley boosted their FY2024 earnings per share estimates for shares of Legacy Housing in a note issued to investors on Thursday, November 14th. B. Riley analyst A. Rygiel now forecasts that the company will earn $2.40 per share for the year, up from their previous forecast of $2.35. B. Riley has a “Neutral” rating and a $29.00 price objective on the stock. The consensus estimate for Legacy Housing’s current full-year earnings is $2.55 per share. B. Riley also issued estimates for Legacy Housing’s Q4 2024 earnings at $0.51 EPS.

Separately, Wedbush reaffirmed an “outperform” rating and set a $29.00 target price on shares of Legacy Housing in a report on Friday, August 9th.

Legacy Housing Price Performance

Legacy Housing stock opened at $25.89 on Friday. The stock has a market capitalization of $625.50 million, a price-to-earnings ratio of 11.93 and a beta of 1.09. Legacy Housing has a 1-year low of $19.42 and a 1-year high of $29.31. The business has a fifty day moving average price of $26.69 and a 200-day moving average price of $25.19.

Institutional Investors Weigh In On Legacy Housing

A number of hedge funds and other institutional investors have recently modified their holdings of LEGH. SG Capital Management LLC acquired a new position in Legacy Housing in the 1st quarter valued at $1,532,000. Vanguard Group Inc. grew its stake in Legacy Housing by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 441,383 shares of the company’s stock valued at $9,499,000 after purchasing an additional 21,995 shares in the last quarter. Progeny 3 Inc. bought a new stake in shares of Legacy Housing in the second quarter worth $1,019,000. Renaissance Technologies LLC raised its stake in shares of Legacy Housing by 161.0% in the 2nd quarter. Renaissance Technologies LLC now owns 40,200 shares of the company’s stock valued at $922,000 after purchasing an additional 24,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Legacy Housing during the 3rd quarter valued at approximately $365,000. 89.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Legacy Housing

In other news, Chairman Curtis Drew Hodgson sold 11,442 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.01, for a total value of $320,490.42. Following the completion of the sale, the chairman now owns 653,699 shares in the company, valued at approximately $18,310,108.99. This trade represents a 1.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 167,795 shares of company stock valued at $4,477,603 over the last quarter. 30.60% of the stock is owned by insiders.

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.