Innealta Capital LLC Makes New Investment in Legacy Housing Co. (NASDAQ:LEGH)

Innealta Capital LLC acquired a new stake in Legacy Housing Co. (NASDAQ:LEGH) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,219 shares of the company’s stock, valued at approximately $28,000.

Other large investors also recently modified their holdings of the company. EntryPoint Capital LLC bought a new stake in Legacy Housing during the first quarter valued at $45,000. BNP Paribas Financial Markets boosted its position in shares of Legacy Housing by 79.0% during the 1st quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company’s stock valued at $123,000 after purchasing an additional 2,520 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Legacy Housing during the first quarter worth approximately $245,000. Jump Financial LLC bought a new stake in Legacy Housing in the fourth quarter worth approximately $292,000. Finally, Empowered Funds LLC lifted its stake in Legacy Housing by 5.0% in the first quarter. Empowered Funds LLC now owns 36,902 shares of the company’s stock valued at $794,000 after buying an additional 1,767 shares during the period. 89.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Curtis Drew Hodgson sold 13,387 shares of Legacy Housing stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $27.73, for a total transaction of $371,221.51. Following the transaction, the chairman now owns 684,486 shares of the company’s stock, valued at $18,980,796.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 32.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LEGH. Wedbush reiterated an “outperform” rating and issued a $29.00 price objective on shares of Legacy Housing in a research note on Friday, August 9th. CJS Securities initiated coverage on shares of Legacy Housing in a report on Friday, June 7th. They set an “outperform” rating and a $33.00 price objective on the stock. Finally, B. Riley reaffirmed a “neutral” rating and set a $29.00 price target (up from $25.00) on shares of Legacy Housing in a research note on Monday, August 12th.

Legacy Housing Stock Performance

Shares of LEGH stock opened at $26.96 on Friday. The company has a current ratio of 3.76, a quick ratio of 2.88 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $25.42 and a two-hundred day simple moving average of $23.64. Legacy Housing Co. has a 12 month low of $17.67 and a 12 month high of $29.31. The firm has a market capitalization of $655.56 million, a PE ratio of 12.72 and a beta of 1.06.

Legacy Housing (NASDAQ:LEGH) last posted its earnings results on Thursday, August 8th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. Legacy Housing had a net margin of 29.70% and a return on equity of 12.33%. The company had revenue of $42.50 million during the quarter, compared to the consensus estimate of $46.35 million. During the same period in the previous year, the firm posted $0.60 earnings per share. Analysts forecast that Legacy Housing Co. will post 2.34 EPS for the current fiscal year.

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.