Legacy Housing (NASDAQ:LEGH) Shares Gap Up After Earnings Beat

Shares of Legacy Housing Co. (NASDAQ:LEGH) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $24.75, but opened at $26.30. Legacy Housing shares last traded at $27.51, with a volume of 8,135 shares traded.

The company reported $0.59 EPS for the quarter, topping 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%.

Insider Transactions at Legacy Housing

In related news, Director Curtis Drew Hodgson sold 9,184 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $24.53, for a total transaction of $225,283.52. Following the sale, the director now owns 412,838 shares in the company, valued at approximately $10,126,916.14. This represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold 54,252 shares of company stock valued at $1,332,489 in the last ninety days. Corporate insiders own 30.60% of the company’s stock.

Institutional Trading of Legacy Housing

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC grew its position in shares of Legacy Housing by 139.1% during the 4th quarter. Squarepoint Ops LLC now owns 33,604 shares of the company’s stock worth $829,000 after buying an additional 19,550 shares in the last quarter. CastleKnight Management LP boosted its position in Legacy Housing by 48.9% during the fourth quarter. CastleKnight Management LP now owns 53,300 shares of the company’s stock valued at $1,315,000 after purchasing an additional 17,500 shares in the last quarter. Bank of America Corp DE boosted its position in Legacy Housing by 46.0% during the fourth quarter. Bank of America Corp DE now owns 14,747 shares of the company’s stock valued at $364,000 after purchasing an additional 4,648 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Legacy Housing by 42.6% during the fourth quarter. BNP Paribas Financial Markets now owns 7,985 shares of the company’s stock valued at $197,000 after purchasing an additional 2,385 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Legacy Housing by 2.8% in the fourth quarter. Ameriprise Financial Inc. now owns 427,619 shares of the company’s stock worth $10,554,000 after acquiring an additional 11,612 shares in the last quarter. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Legacy Housing Price Performance

The stock has a market cap of $665.92 million, a price-to-earnings ratio of 12.76 and a beta of 1.16. The company’s fifty day moving average price is $25.30 and its 200-day moving average price is $25.87.

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.