Progeny 3 Inc. Invests $1.02 Million in Legacy Housing Co. (NASDAQ:LEGH)

Progeny 3 Inc. bought a new position in shares of Legacy Housing Co. (NASDAQ:LEGH) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 44,420 shares of the company’s stock, valued at approximately $1,019,000. Legacy Housing accounts for 0.1% of Progeny 3 Inc.’s investment portfolio, making the stock its 29th biggest position. Progeny 3 Inc. owned about 0.18% of Legacy Housing as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Gabelli Funds LLC raised its position in shares of Legacy Housing by 3.5% in the 4th quarter. Gabelli Funds LLC now owns 47,327 shares of the company’s stock valued at $1,194,000 after purchasing an additional 1,600 shares in the last quarter. Mill Road Capital Management LLC lifted its position in shares of Legacy Housing by 7.3% during the fourth quarter. Mill Road Capital Management LLC now owns 500,798 shares of the company’s stock worth $12,630,000 after purchasing an additional 33,998 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Legacy Housing by 79.0% in the first quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company’s stock valued at $123,000 after buying an additional 2,520 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Legacy Housing by 5.0% in the 1st quarter. Empowered Funds LLC now owns 36,902 shares of the company’s stock valued at $794,000 after acquiring an additional 1,767 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Legacy Housing by 5.2% during the first quarter. Vanguard Group Inc. now owns 441,383 shares of the company’s stock valued at $9,499,000 after purchasing an additional 21,995 shares during the last quarter. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. B. Riley reiterated a “neutral” rating and issued a $29.00 target price (up from $25.00) on shares of Legacy Housing in a research note on Monday, August 12th. CJS Securities assumed coverage on shares of Legacy Housing in a research report on Friday, June 7th. They issued an “outperform” rating and a $33.00 target price for the company. Finally, Wedbush restated an “outperform” rating and issued a $29.00 target price on shares of Legacy Housing in a research report on Friday, August 9th.

Insider Transactions at Legacy Housing

In other Legacy Housing news, Chairman Curtis Drew Hodgson sold 17,300 shares of Legacy Housing stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $26.08, for a total transaction of $451,184.00. Following the transaction, the chairman now owns 697,873 shares of the company’s stock, valued at approximately $18,200,527.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 59,429 shares of company stock valued at $1,586,641 over the last quarter. Company insiders own 32.20% of the company’s stock.

Legacy Housing Stock Down 1.3 %

Shares of Legacy Housing stock opened at $27.64 on Tuesday. 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 $672.09 million, a PE ratio of 13.04 and a beta of 1.08. The company has a quick ratio of 3.41, a current ratio of 4.39 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average is $26.76 and its 200-day moving average is $23.83.

Legacy Housing (NASDAQ:LEGH) last announced 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 32.17% and a return on equity of 12.25%. The company had revenue of $42.50 million during the quarter, compared to analysts’ expectations of $46.35 million. During the same period last year, the company posted $0.60 earnings per share. Equities analysts anticipate that Legacy Housing Co. will post 2.55 earnings per share for the current year.

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.