Legacy Housing (NASDAQ:LEGH) Sees Unusually-High Trading Volume – Here’s Why

Legacy Housing Corporation (NASDAQ:LEGH) saw strong trading volume on Friday . Approximately 130,395 shares were traded during trading, an increase of 27% from the previous session’s volume of 102,348 shares.The stock last traded at $29.77 and had previously closed at $28.90.

Analyst Ratings Changes

Several equities analysts have issued reports on LEGH shares. Zacks Research lowered shares of Legacy Housing from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded Legacy Housing from a “hold” rating to a “strong-buy” rating in a report on Saturday. B. Riley Financial reissued a “neutral” rating on shares of Legacy Housing in a research report on Thursday, May 14th. Finally, Weiss Ratings upgraded Legacy Housing from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.00.

Legacy Housing Price Performance

The stock has a market cap of $694.43 million, a price-to-earnings ratio of 13.46 and a beta of 0.78. The stock has a fifty day moving average of $25.78 and a 200 day moving average of $22.88.

Legacy Housing (NASDAQ:LEGH) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.27. Legacy Housing had a net margin of 28.56% and a return on equity of 9.53%. The company had revenue of $66.35 million for the quarter, compared to the consensus estimate of $64.08 million. As a group, equities analysts expect that Legacy Housing Corporation will post 2.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new position in Legacy Housing during the third quarter valued at $26,000. Tower Research Capital LLC TRC raised its stake in shares of Legacy Housing by 414.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,408 shares of the company’s stock valued at $55,000 after buying an additional 1,940 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Legacy Housing by 179.6% in the 4th quarter. State of Alaska Department of Revenue now owns 3,470 shares of the company’s stock valued at $67,000 after buying an additional 2,229 shares during the period. Aquatic Capital Management LLC lifted its holdings in shares of Legacy Housing by 2,156.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 4,873 shares of the company’s stock valued at $134,000 after buying an additional 4,657 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Legacy Housing in the first quarter worth about $124,000. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corp. designs, builds and markets factory-built homes, focusing on both single-section and multi-section manufactured housing products. The company offers a range of floor plans and customization options, including energy-efficient features and accessible design elements. Its core business activities encompass in-house design, procurement of building materials, plant-based construction and nationwide distribution through an independent network of retail partners.

Founded in 2009 and headquartered in Dallas, Texas, Legacy Housing operates in key regions across the southeastern and southwestern United States.