B. Riley Issues Positive Outlook for Legacy Housing Earnings

Legacy Housing Co. (NASDAQ:LEGH) – Investment analysts at B. Riley increased their FY2024 earnings per share estimates for Legacy Housing in a research note issued on Thursday, November 14th. B. Riley analyst A. Rygiel now anticipates that the company will post earnings per share of $2.40 for the year, up from their previous estimate of $2.35. B. Riley has a “Neutral” rating and a $29.00 price target on the stock. The consensus estimate for Legacy Housing’s current full-year earnings is $2.55 per share. B. Riley also issued estimates for Legacy Housing’s Q4 2024 earnings at $0.51 EPS.

Separately, Wedbush restated an “outperform” rating and set a $29.00 price target on shares of Legacy Housing in a research report on Friday, August 9th.

Legacy Housing Price Performance

Shares of NASDAQ LEGH opened at $25.90 on Friday. The stock has a market capitalization of $625.74 million, a price-to-earnings ratio of 11.94 and a beta of 1.09. The firm’s 50 day simple moving average is $26.68 and its 200-day simple moving average is $25.14. Legacy Housing has a 12 month low of $19.42 and a 12 month high of $29.31.

Insider Buying and Selling at Legacy Housing

In other news, Chairman Curtis Drew Hodgson sold 1,300 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $27.02, for a total transaction of $35,126.00. Following the completion of the sale, the chairman now owns 577,341 shares of the company’s stock, valued at $15,599,753.82. The trade was a 0.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 167,795 shares of company stock valued at $4,477,603. Company insiders own 30.60% of the company’s stock.

Institutional Trading of Legacy Housing

Large investors have recently made changes to their positions in the company. Cerity Partners LLC raised its position in shares of Legacy Housing by 141.3% in the third quarter. Cerity Partners LLC now owns 178,276 shares of the company’s stock valued at $4,876,000 after buying an additional 104,386 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Legacy Housing by 17.1% in the second quarter. Dimensional Fund Advisors LP now owns 609,217 shares of the company’s stock valued at $13,975,000 after purchasing an additional 88,921 shares during the last quarter. SG Capital Management LLC purchased a new position in Legacy Housing during the first quarter worth approximately $1,532,000. Charles Schwab Investment Management Inc. boosted its stake in Legacy Housing by 193.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 91,453 shares of the company’s stock worth $2,501,000 after buying an additional 60,292 shares during the last quarter. Finally, Progeny 3 Inc. acquired a new position in Legacy Housing during the second quarter worth $1,019,000. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

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.