Legacy Housing (NASDAQ:LEGH) Shares Down 5% – Time to Sell?

Legacy Housing Co. (NASDAQ:LEGH) fell 5% during trading on Tuesday . The stock traded as low as $25.80 and last traded at $26.41. 54,283 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 77,517 shares. The stock had previously closed at $27.79.

Legacy Housing Stock Performance

The firm has a 50 day simple moving average of $25.18 and a 200 day simple moving average of $25.98. The firm has a market cap of $646.28 million, a P/E ratio of 12.33 and a beta of 1.09.

Insider Buying and Selling at Legacy Housing

In related news, Chairman Curtis Drew Hodgson sold 17,300 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $26.53, for a total transaction of $458,969.00. Following the transaction, the chairman now directly owns 491,222 shares in the company, valued at $13,032,119.66. This trade represents a 3.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 112,152 shares of company stock valued at $2,833,932 in the last 90 days. Corporate insiders own 30.60% of the company’s stock.

Institutional Investors Weigh In On Legacy Housing

A number of large investors have recently made changes to their positions in the business. Voss Capital LP grew its position in shares of Legacy Housing by 8.7% in the 4th quarter. Voss Capital LP now owns 928,599 shares of the company’s stock worth $22,918,000 after buying an additional 74,087 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Legacy Housing by 7.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 713,928 shares of the company’s stock worth $17,619,000 after buying an additional 48,268 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Legacy Housing by 14.9% in the 4th quarter. Vanguard Group Inc. now owns 623,287 shares of the company’s stock worth $15,383,000 after buying an additional 80,982 shares during the last quarter. Advisory Research Inc. boosted its position in shares of Legacy Housing by 34.0% during the fourth quarter. Advisory Research Inc. now owns 472,935 shares of the company’s stock valued at $11,672,000 after purchasing an additional 120,000 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Legacy Housing by 2.8% during the fourth quarter. Ameriprise Financial Inc. now owns 427,619 shares of the company’s stock valued at $10,554,000 after purchasing an additional 11,612 shares in the last quarter. 89.35% of the stock is currently owned by 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.