Legacy Housing Co. (NASDAQ:LEGH) is Meixler Investment Management Ltd.’s 9th Largest Position

Meixler Investment Management Ltd. reduced its stake in Legacy Housing Co. (NASDAQ:LEGH) by 8.0% during the 3rd quarter, Holdings Channel reports. The fund owned 106,899 shares of the company’s stock after selling 9,355 shares during the period. Legacy Housing comprises about 2.2% of Meixler Investment Management Ltd.’s portfolio, making the stock its 9th biggest position. Meixler Investment Management Ltd.’s holdings in Legacy Housing were worth $2,924,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Legacy Housing by 79.0% during the first quarter. BNP Paribas Financial Markets now owns 5,708 shares of the company’s stock worth $123,000 after purchasing an additional 2,520 shares during the last quarter. Empowered Funds LLC raised its stake in Legacy Housing by 5.0% during the first quarter. Empowered Funds LLC now owns 36,902 shares of the company’s stock worth $794,000 after purchasing an additional 1,767 shares during the period. Vanguard Group Inc. grew its stake in shares of Legacy Housing by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 441,383 shares of the company’s stock valued at $9,499,000 after buying an additional 21,995 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Legacy Housing during the 1st quarter worth $45,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Legacy Housing in the 1st quarter worth $245,000. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Legacy Housing Stock Up 1.3 %

Shares of NASDAQ LEGH opened at $27.61 on Monday. The stock has a fifty day moving average price of $26.65 and a 200 day moving average price of $25.04. The company has a market cap of $671.48 million, a P/E ratio of 12.72 and a beta of 1.09. Legacy Housing Co. has a 12-month low of $18.00 and a 12-month high of $29.31. The company has a current ratio of 4.39, a quick ratio of 3.41 and a debt-to-equity ratio of 0.03.

Legacy Housing (NASDAQ:LEGH) last announced its earnings results on Thursday, August 8th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. The business had revenue of $42.50 million for the quarter, compared to the consensus estimate of $46.35 million. Legacy Housing had a return on equity of 12.25% and a net margin of 32.17%. During the same period last year, the business posted $0.60 EPS. Research analysts anticipate that Legacy Housing Co. will post 2.55 EPS for the current fiscal year.

Insider Buying and Selling at Legacy Housing

In related news, Chairman Curtis Drew Hodgson sold 1,300 shares of Legacy Housing stock in a transaction on Monday, October 21st. The shares were sold at an average price of $27.02, for a total transaction of $35,126.00. Following the sale, the chairman now owns 577,341 shares of the company’s stock, valued at $15,599,753.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 151,027 shares of company stock valued at $4,016,253 over the last 90 days. 32.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. B. Riley reissued a “neutral” rating and set a $29.00 price target (up previously from $25.00) on shares of Legacy Housing in a research report on Monday, August 12th. Wedbush reissued an “outperform” rating and set a $29.00 target price on shares of Legacy Housing in a research report on Friday, August 9th.

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.