Philadelphia Financial Management of San Francisco LLC Acquires New Holdings in Legacy Housing Corporation $LEGH

Philadelphia Financial Management of San Francisco LLC purchased a new stake in Legacy Housing Corporation (NASDAQ:LEGH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 454,425 shares of the company’s stock, valued at approximately $11,937,745,000. Legacy Housing accounts for about 2.4% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 8th largest holding.

A number of other hedge funds also recently made changes to their positions in LEGH. Quarry LP purchased a new stake in Legacy Housing during the third quarter valued at about $26,000. Tower Research Capital LLC TRC increased its position in shares of Legacy Housing by 414.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock valued at $55,000 after purchasing an additional 1,940 shares during the last quarter. Aquatic Capital Management LLC raised its holdings in shares of Legacy Housing by 2,156.0% during the 3rd quarter. Aquatic Capital Management LLC now owns 4,873 shares of the company’s stock valued at $134,000 after buying an additional 4,657 shares in the last quarter. Strs Ohio purchased a new stake in Legacy Housing in the first quarter worth approximately $124,000. Finally, Legal & General Group Plc bought a new position in Legacy Housing during the second quarter valued at approximately $149,000. 89.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. B. Riley Financial restated a “neutral” rating on shares of Legacy Housing in a report on Thursday, May 14th. Zacks Research cut Legacy Housing from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered Legacy Housing from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Finally, Weiss Ratings upgraded Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Legacy Housing has a consensus rating of “Hold” and an average price target of $21.00.

Legacy Housing Stock Performance

LEGH opened at $28.55 on Thursday. The stock has a market capitalization of $678.98 million, a PE ratio of 13.16 and a beta of 0.78. The stock’s 50 day moving average price is $26.93 and its 200-day moving average price is $23.56. Legacy Housing Corporation has a 52-week low of $18.28 and a 52-week high of $31.34.

Legacy Housing (NASDAQ:LEGH) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.27. Legacy Housing had a net margin of 28.56% and a return on equity of 9.53%. The business had revenue of $66.35 million for the quarter, compared to the consensus estimate of $64.08 million. Research analysts forecast that Legacy Housing Corporation will post 2.32 EPS for the current fiscal year.

About Legacy Housing

Legacy Housing Corp. designs, builds and markets factory-built homes, focusing on both single-section and multi-section manufactured housing products. The company offers a range of floor plans and customization options, including energy-efficient features and accessible design elements. Its core business activities encompass in-house design, procurement of building materials, plant-based construction and nationwide distribution through an independent network of retail partners.

Founded in 2009 and headquartered in Dallas, Texas, Legacy Housing operates in key regions across the southeastern and southwestern United States.