Yacktman Asset Management LP Has $3.78 Million Stock Position in Legacy Housing Co. (NASDAQ:LEGH)

Yacktman Asset Management LP reduced its stake in shares of Legacy Housing Co. (NASDAQ:LEGH) by 3.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 150,000 shares of the company’s stock after selling 5,000 shares during the quarter. Yacktman Asset Management LP’s holdings in Legacy Housing were worth $3,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of Legacy Housing during the fourth quarter valued at about $143,000. Cornercap Investment Counsel Inc. acquired a new position in shares of Legacy Housing in the fourth quarter valued at $511,000. Premier Path Wealth Partners LLC bought a new position in Legacy Housing in the fourth quarter worth $1,220,000. Bank of New York Mellon Corp boosted its stake in Legacy Housing by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 50,071 shares of the company’s stock worth $972,000 after buying an additional 1,092 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its position in shares of Legacy Housing by 26.1% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 62,853 shares of the company’s stock valued at $1,220,000 after acquiring an additional 13,023 shares in the last quarter. 89.35% of the stock is owned by institutional investors.

Legacy Housing Price Performance

Shares of NASDAQ LEGH traded up $0.14 during midday trading on Friday, reaching $20.22. 23,049 shares of the company traded hands, compared to its average volume of 69,760. The stock’s 50-day simple moving average is $22.51 and its 200-day simple moving average is $22.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.00 and a current ratio of 2.89. Legacy Housing Co. has a 12 month low of $17.67 and a 12 month high of $26.50. The firm has a market cap of $493.37 million, a PE ratio of 9.25 and a beta of 0.94.

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

Insider Buying and Selling

In other Legacy Housing news, EVP Kenneth E. Shipley sold 34,000 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $24.40, for a total value of $829,600.00. Following the transaction, the executive vice president now owns 2,892,610 shares of the company’s stock, valued at $70,579,684. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Legacy Housing news, EVP Kenneth E. Shipley sold 34,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $24.40, for a total value of $829,600.00. Following the completion of the transaction, the executive vice president now directly owns 2,892,610 shares of the company’s stock, valued at $70,579,684. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Curtis Drew Hodgson sold 17,400 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.57, for a total transaction of $444,918.00. Following the sale, the chairman now directly owns 784,773 shares in the company, valued at $20,066,645.61. The disclosure for this sale can be found here. Insiders have sold a total of 147,575 shares of company stock worth $3,652,775 in the last three months. Insiders own 32.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush decreased their price objective on Legacy Housing from $31.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, March 19th.

Legacy Housing Company 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.