Legacy Housing (NASDAQ:LEGH) Announces Earnings Results

Legacy Housing (NASDAQ:LEGH) reported quarterly earnings of $0.35 per share, missing estimates of $0.57. Revenue was $40.48 million, below the expected $45.53 million. The company has a return on equity of 11.11% and a net margin of 30.00%. Institutional investors hold 89.35% of the stock. Weiss Ratings downgraded the stock from "buy" to "hold". The current consensus rating is "Hold" with a price target of $26.00.

Legacy Housing (NASDAQ:LEGH - Get Free Report) issued its earnings results on Friday. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.22), FiscalAI reports. Legacy Housing had a net margin of 30.00% and a return on equity of 11.11%. The business had revenue of $40.48 million for the quarter, compared to the consensus estimate of $45.53 million.

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Legacy Housing Price Performance

Legacy Housing stock opened at $22.22 on Friday. The company has a market cap of $530.39 million, a price-to-earnings ratio of 11.39 and a beta of 0.80. The firm has a 50-day moving average of $25.19 and a 200-day moving average of $24.27. Legacy Housing has a one year low of $20.85 and a one year high of $29.45.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LEGH. Royal Bank of Canada lifted its stake in Legacy Housing by 21.9% in the 1st quarter. Royal Bank of Canada now owns 105,440 shares of the company's stock valued at $2,659,000 after purchasing an additional 18,920 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Legacy Housing by 4.2% in the first quarter. Goldman Sachs Group Inc. now owns 54,434 shares of the company's stock valued at $1,373,000 after buying an additional 2,214 shares during the period. Jane Street Group LLC acquired a new stake in shares of Legacy Housing in the first quarter valued at approximately $570,000. Strs Ohio bought a new position in shares of Legacy Housing during the 1st quarter worth approximately $124,000. Finally, Legal & General Group Plc increased its holdings in shares of Legacy Housing by 15.7% during the 2nd quarter. Legal & General Group Plc now owns 8,958 shares of the company's stock worth $203,000 after acquiring an additional 1,216 shares during the last quarter. 89.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Legacy Housing from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Saturday, October 25th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $26.00.

Check Out Our Latest Stock Analysis on LEGH

About Legacy Housing

(Get Free Report)

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.

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