Yacktman Asset Management LP Trims Stock Holdings in Legacy Housing Co. (NASDAQ:LEGH)

Yacktman Asset Management LP lessened its stake in shares of Legacy Housing Co. (NASDAQ:LEGH) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the company’s stock after selling 5,000 shares during the quarter. Yacktman Asset Management LP owned approximately 0.62% of Legacy Housing worth $3,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Legacy Housing during the fourth quarter worth $143,000. Cornercap Investment Counsel Inc. purchased a new stake in Legacy Housing in the 4th quarter valued at about $511,000. Bank of New York Mellon Corp lifted its holdings in shares of Legacy Housing by 2.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 50,071 shares of the company’s stock worth $972,000 after acquiring an additional 1,092 shares during the period. Premier Path Wealth Partners LLC purchased a new stake in Legacy Housing in the fourth quarter valued at approximately $1,220,000. Finally, Brandywine Global Investment Management LLC raised its stake in Legacy Housing by 26.1% during the third quarter. Brandywine Global Investment Management LLC now owns 62,853 shares of the company’s stock worth $1,220,000 after purchasing an additional 13,023 shares during the period. Institutional investors and hedge funds own 89.35% of the company’s stock.

Insider Transactions at Legacy Housing

In related news, Chairman Curtis Drew Hodgson sold 16,400 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $23.99, for a total transaction of $393,436.00. Following the transaction, the chairman now directly owns 820,573 shares of the company’s stock, valued at approximately $19,685,546.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 16,400 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $23.99, for a total value of $393,436.00. Following the transaction, the chairman now owns 820,573 shares in the company, valued at approximately $19,685,546.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Kyle Stouder bought 4,900 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were acquired at an average cost of $21.11 per share, for a total transaction of $103,439.00. Following the completion of the transaction, the director now owns 5,975 shares of the company’s stock, valued at approximately $126,132.25. The disclosure for this purchase can be found here. Insiders sold 147,575 shares of company stock valued at $3,652,775 over the last quarter. Company insiders own 32.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush lowered their price target on Legacy Housing from $31.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th.

Legacy Housing Trading Up 0.7 %

NASDAQ LEGH traded up $0.14 during mid-day trading on Friday, hitting $20.22. The company’s stock had a trading volume of 23,049 shares, compared to its average volume of 69,760. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.00. Legacy Housing Co. has a 52-week low of $17.67 and a 52-week high of $26.50. The stock’s fifty day simple moving average is $22.51 and its two-hundred day simple moving average is $22.46. The firm has a market capitalization of $493.37 million, a P/E ratio of 9.25 and a beta of 0.94.

Legacy Housing (NASDAQ:LEGH) last posted its earnings results on Friday, March 15th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.49). Legacy Housing had a net margin of 28.79% and a return on equity of 12.99%. The business had revenue of $33.71 million for the quarter, compared to analyst estimates of $60.66 million. Research analysts expect that Legacy Housing Co. will post 1.72 EPS for the current year.

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.