Assenagon Asset Management S.A. Makes New $698,000 Investment in Legacy Housing Corporation $LEGH

Assenagon Asset Management S.A. purchased a new stake in Legacy Housing Corporation (NASDAQ:LEGH) during the third quarter, Holdings Channel reports. The institutional investor purchased 25,389 shares of the company’s stock, valued at approximately $698,000.

Several other large investors have also recently bought and sold shares of LEGH. First Trust Advisors LP lifted its position in shares of Legacy Housing by 2.6% during the 2nd quarter. First Trust Advisors LP now owns 35,892 shares of the company’s stock worth $813,000 after buying an additional 917 shares during the last quarter. Bfsg LLC raised its stake in Legacy Housing by 1.0% during the 2nd quarter. Bfsg LLC now owns 89,957 shares of the company’s stock worth $2,038,000 after acquiring an additional 925 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Legacy Housing by 4.1% in the second quarter. Teacher Retirement System of Texas now owns 28,798 shares of the company’s stock valued at $653,000 after acquiring an additional 1,129 shares during the last quarter. Legal & General Group Plc boosted its stake in Legacy Housing by 15.7% in the second quarter. Legal & General Group Plc now owns 8,958 shares of the company’s stock valued at $203,000 after acquiring an additional 1,216 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Legacy Housing by 11.5% during the second quarter. Bank of America Corp DE now owns 14,641 shares of the company’s stock worth $332,000 after purchasing an additional 1,515 shares during the last quarter. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on LEGH. CJS Securities cut shares of Legacy Housing from a “market outperform” rating to a “market perform” rating in a report on Tuesday, November 11th. Zacks Research downgraded shares of Legacy Housing from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of Legacy Housing in a research note on Monday. Finally, B. Riley decreased their target price on shares of Legacy Housing from $26.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, November 12th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $21.00.

Legacy Housing Stock Performance

Shares of NASDAQ LEGH opened at $19.88 on Friday. The company’s fifty day moving average is $20.98 and its two-hundred day moving average is $23.41. Legacy Housing Corporation has a one year low of $18.83 and a one year high of $29.45. The firm has a market capitalization of $474.42 million, a P/E ratio of 10.19 and a beta of 0.80.

Legacy Housing (NASDAQ:LEGH) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.22). Legacy Housing had a net margin of 26.66% and a return on equity of 9.47%. The company had revenue of $40.48 million during the quarter, compared to analyst estimates of $45.53 million.

About Legacy Housing

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.