Kenneth E. Shipley Sells 10,000 Shares of Legacy Housing Corp (NASDAQ:LEGH) Stock

Posted by Andrew Walz on Dec 4th, 2019

Legacy Housing logo Legacy Housing Corp (NASDAQ:LEGH) CEO Kenneth E. Shipley sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $15.71, for a total value of $157,100.00. Following the completion of the transaction, the chief executive officer now owns 3,236,667 shares of the company’s stock, valued at approximately $50,848,038.57. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of LEGH traded up $0.24 during trading hours on Wednesday, reaching $15.99. 2,595 shares of the company’s stock traded hands, compared to its average volume of 26,334. Legacy Housing Corp has a 12 month low of $8.93 and a 12 month high of $17.40. The company has a current ratio of 1.57, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. The stock has a market cap of $396.06 million and a PE ratio of 14.94. The firm’s 50 day simple moving average is $15.54 and its 200-day simple moving average is $14.07.

Legacy Housing (NASDAQ:LEGH) last posted its quarterly earnings data on Friday, November 15th. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.07). Legacy Housing had a return on equity of 12.12% and a net margin of 15.45%. The company had revenue of $41.94 million during the quarter, compared to the consensus estimate of $44.22 million. As a group, analysts expect that Legacy Housing Corp will post 1.13 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. purchased a new stake in shares of Legacy Housing during the 1st quarter valued at $46,000. Barclays PLC increased its stake in Legacy Housing by 64.2% in the third quarter. Barclays PLC now owns 5,109 shares of the company’s stock valued at $83,000 after acquiring an additional 1,997 shares during the last quarter. Wells Fargo & Company MN bought a new position in Legacy Housing in the second quarter valued at $104,000. California State Teachers Retirement System raised its position in Legacy Housing by 25.0% during the third quarter. California State Teachers Retirement System now owns 8,993 shares of the company’s stock valued at $146,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Legacy Housing by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 14,330 shares of the company’s stock valued at $179,000 after purchasing an additional 1,072 shares in the last quarter. 16.68% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on LEGH shares. B. Riley began coverage on Legacy Housing in a research report on Friday, November 15th. They set a “buy” rating and a $18.00 price target on the stock. Lake Street Capital assumed coverage on shares of Legacy Housing in a report on Tuesday, September 17th. They issued a “buy” rating on the stock. Zacks Investment Research downgraded Legacy Housing from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Finally, Oak Ridge Finl. reissued a “buy” rating on shares of Legacy Housing in a research note on Thursday, August 15th.

Legacy Housing Company Profile

Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses primarily in the southern United States. The company manufactures and provides for the transport of mobile homes; and offers wholesale financing to dealers and mobile home parks, as well as a range of homes, including 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms.