Legacy Housing (NASDAQ:LEGH) Reaches New 52-Week Low – Should You Sell?

Legacy Housing Co. (NASDAQ:LEGH)’s stock price hit 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 trading hands. The stock had previously closed at $25.24.

Legacy Housing Stock Performance

The company has a 50-day moving average of $25.85 and a 200-day moving average of $25.79. The stock has a market cap of $568.60 million, a price-to-earnings ratio of 10.94 and a beta of 1.16.

Legacy Housing (NASDAQ:LEGH) last released 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. Legacy Housing had a return on equity of 11.85% and a net margin of 33.11%. The business had revenue of $54.19 million for the quarter, compared to analyst estimates of $44.59 million.

Insider Transactions at Legacy Housing

In other news, Director Curtis Drew Hodgson sold 10,468 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $23.65, for a total transaction of $247,568.20. Following the completion of the transaction, the director now directly owns 394,254 shares of the company’s stock, valued at approximately $9,324,107.10. This represents a 2.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 30.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LEGH. Geode Capital Management LLC grew its stake in shares of Legacy Housing by 17.8% during the 3rd quarter. Geode Capital Management LLC now owns 269,325 shares of the company’s stock worth $7,367,000 after purchasing an additional 40,729 shares during the period. Barclays PLC grew its position in Legacy Housing by 294.1% during the third quarter. Barclays PLC now owns 17,338 shares of the company’s stock worth $474,000 after buying an additional 12,939 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Legacy Housing by 193.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 91,453 shares of the company’s stock valued at $2,501,000 after acquiring an additional 60,292 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Legacy Housing by 17.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,600 shares of the company’s stock worth $153,000 after acquiring an additional 848 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Legacy Housing by 5.9% during the 3rd quarter. State Street Corp now owns 207,972 shares of the company’s stock worth $5,688,000 after acquiring an additional 11,599 shares in the last quarter. 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.