Boston Partners Raises Position in Legacy Housing Corporation $LEGH

Boston Partners raised its position in Legacy Housing Corporation (NASDAQ:LEGH) by 11.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 128,937 shares of the company’s stock after buying an additional 12,848 shares during the period. Boston Partners’ holdings in Legacy Housing were worth $2,922,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LEGH. XTX Topco Ltd purchased a new position in shares of Legacy Housing in the second quarter valued at approximately $401,000. American Century Companies Inc. raised its stake in Legacy Housing by 23.0% in the 2nd quarter. American Century Companies Inc. now owns 100,248 shares of the company’s stock valued at $2,272,000 after purchasing an additional 18,749 shares during the last quarter. Legal & General Group Plc lifted its holdings in Legacy Housing by 15.7% in the 2nd quarter. Legal & General Group Plc now owns 8,958 shares of the company’s stock valued at $203,000 after purchasing an additional 1,216 shares in the last quarter. Swiss National Bank boosted its stake in Legacy Housing by 7.5% during the 2nd quarter. Swiss National Bank now owns 23,044 shares of the company’s stock worth $522,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Yacktman Asset Management LP grew its holdings in shares of Legacy Housing by 17.6% during the second quarter. Yacktman Asset Management LP now owns 60,000 shares of the company’s stock worth $1,360,000 after buying an additional 9,000 shares in the last quarter. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

Legacy Housing Price Performance

Shares of NASDAQ LEGH opened at $19.93 on Friday. The company has a market capitalization of $475.73 million, a P/E ratio of 10.22 and a beta of 0.80. The company has a 50 day simple moving average of $22.82 and a 200-day simple moving average of $23.75. Legacy Housing Corporation has a 1 year low of $18.83 and a 1 year high of $29.45.

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

Analysts Set New Price Targets

LEGH has been the topic of several research reports. Zacks Research downgraded shares of Legacy Housing from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. CJS Securities lowered shares of Legacy Housing from a “market outperform” rating to a “market perform” rating in a research note on Tuesday, November 11th. Weiss Ratings restated a “hold (c)” rating on shares of Legacy Housing in a report on Monday, November 24th. Finally, B. Riley cut their price target on Legacy Housing from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $21.00.

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.