Legacy Housing (NASDAQ:LEGH) Shares Gap Up Following Strong Earnings

Legacy Housing Co. (NASDAQ:LEGH)’s share price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $24.75, but opened at $26.30. Legacy Housing shares last traded at $27.51, with a volume of 8,135 shares traded.

The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.07. Legacy Housing had a net margin of 33.11% and a return on equity of 11.85%. The firm had revenue of $54.19 million for the quarter, compared to the consensus estimate of $44.59 million.

Insiders Place Their Bets

In other news, Director Curtis Drew Hodgson sold 10,468 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was 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 directly owns 394,254 shares in the company, valued at approximately $9,324,107.10. This represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 54,252 shares of company stock valued at $1,332,489 in the last quarter. Corporate insiders own 30.60% of the company’s stock.

Institutional Trading of Legacy Housing

Hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC boosted its stake in shares of Legacy Housing by 139.1% in the 4th quarter. Squarepoint Ops LLC now owns 33,604 shares of the company’s stock valued at $829,000 after purchasing an additional 19,550 shares in the last quarter. CastleKnight Management LP lifted its stake in Legacy Housing by 48.9% in the fourth quarter. CastleKnight Management LP now owns 53,300 shares of the company’s stock worth $1,315,000 after purchasing an additional 17,500 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Legacy Housing by 46.0% during the fourth quarter. Bank of America Corp DE now owns 14,747 shares of the company’s stock valued at $364,000 after buying an additional 4,648 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Legacy Housing by 42.6% in the fourth quarter. BNP Paribas Financial Markets now owns 7,985 shares of the company’s stock worth $197,000 after buying an additional 2,385 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Legacy Housing by 2.8% in the 4th quarter. Ameriprise Financial Inc. now owns 427,619 shares of the company’s stock valued at $10,554,000 after acquiring an additional 11,612 shares during the last quarter. Institutional investors own 89.35% of the company’s stock.

Legacy Housing Trading Up 2.2 %

The firm has a fifty day moving average of $25.37 and a two-hundred day moving average of $25.86. The company has a market capitalization of $627.14 million, a PE ratio of 11.96 and a beta of 1.16.

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.