Kenneth E. Shipley Sells 4,001 Shares of Legacy Housing Corp (NASDAQ:LEGH) Stock

Legacy Housing Corp (NASDAQ:LEGH) CEO Kenneth E. Shipley sold 4,001 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $12.86, for a total value of $51,452.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Legacy Housing stock opened at $12.31 on Wednesday. The firm has a market capitalization of $315.46 million and a PE ratio of 11.50. The stock has a fifty day simple moving average of $12.58. The company has a current ratio of 2.83, a quick ratio of 1.09 and a debt-to-equity ratio of 0.05. Legacy Housing Corp has a 12 month low of $8.93 and a 12 month high of $14.99.

Legacy Housing (NASDAQ:LEGH) last issued its earnings results on Monday, May 13th. The company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. The business had revenue of $37.95 million during the quarter, compared to analyst estimates of $38.75 million. As a group, research analysts anticipate that Legacy Housing Corp will post 1.11 earnings per share for the current fiscal year.

Several brokerages have recently commented on LEGH. Zacks Investment Research cut Legacy Housing from a “hold” rating to a “sell” rating in a research report on Saturday, April 13th. B. Riley decreased their target price on Legacy Housing from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Philadelphia Financial Management of San Francisco LLC acquired a new stake in Legacy Housing during the fourth quarter valued at $1,850,000. Perritt Capital Management Inc. acquired a new stake in Legacy Housing during the fourth quarter valued at $1,813,000. Victory Capital Management Inc. acquired a new stake in Legacy Housing during the fourth quarter valued at $1,750,000. Boston Partners acquired a new stake in Legacy Housing during the fourth quarter valued at $1,095,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Legacy Housing during the first quarter valued at $313,000. 15.66% of the stock is owned by hedge funds and other institutional investors.

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.

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