Yacktman Asset Management LP Sells 60,000 Shares of Legacy Housing Co. (NASDAQ:LEGH)

Yacktman Asset Management LP lessened its stake in Legacy Housing Co. (NASDAQ:LEGH) by 46.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,000 shares of the company’s stock after selling 60,000 shares during the period. Yacktman Asset Management LP owned 0.29% of Legacy Housing worth $1,914,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Legacy Housing by 17.1% during the second quarter. Dimensional Fund Advisors LP now owns 609,217 shares of the company’s stock worth $13,975,000 after acquiring an additional 88,921 shares during the last quarter. Vanguard Group Inc. raised its holdings in Legacy Housing by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 441,383 shares of the company’s stock worth $9,499,000 after purchasing an additional 21,995 shares during the last quarter. American Century Companies Inc. lifted its position in Legacy Housing by 1.1% during the 2nd quarter. American Century Companies Inc. now owns 180,736 shares of the company’s stock valued at $4,146,000 after purchasing an additional 2,014 shares during the period. SG Capital Management LLC bought a new position in shares of Legacy Housing in the 1st quarter valued at about $1,532,000. Finally, Bank of New York Mellon Corp grew its position in shares of Legacy Housing by 7.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 59,517 shares of the company’s stock worth $1,365,000 after buying an additional 4,287 shares during the period. Institutional investors and hedge funds own 89.35% of the company’s stock.

Analyst Upgrades and Downgrades

LEGH has been the topic of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Legacy Housing in a research note on Friday, August 9th. B. Riley reaffirmed a “neutral” rating and set a $29.00 price objective (up from $25.00) on shares of Legacy Housing in a research note on Monday, August 12th.

Legacy Housing Stock Down 1.9 %

Legacy Housing stock opened at $25.18 on Tuesday. Legacy Housing Co. has a fifty-two week low of $18.00 and a fifty-two week high of $29.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.39 and a quick ratio of 3.41. The firm has a market capitalization of $612.38 million, a price-to-earnings ratio of 11.60 and a beta of 1.09. The company’s 50 day simple moving average is $26.62 and its 200 day simple moving average is $24.84.

Legacy Housing (NASDAQ:LEGH) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $42.50 million during the quarter, compared to analyst estimates of $46.35 million. Legacy Housing had a net margin of 32.17% and a return on equity of 12.25%. During the same quarter in the previous year, the business earned $0.60 EPS. As a group, sell-side analysts anticipate that Legacy Housing Co. will post 2.55 EPS for the current year.

Insiders Place Their Bets

In other news, Chairman Curtis Drew Hodgson sold 17,300 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $26.08, for a total value of $451,184.00. Following the completion of the transaction, the chairman now owns 697,873 shares in the company, valued at $18,200,527.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 143,327 shares of company stock worth $3,819,364. Company insiders own 32.20% of the company’s stock.

Legacy Housing 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.