Legacy Housing Corp (NASDAQ:LEGH) Short Interest Update

Legacy Housing Corp (NASDAQ:LEGH) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 592,300 shares, a growth of 60.7% from the May 30th total of 368,500 shares. Based on an average trading volume of 79,100 shares, the short-interest ratio is currently 7.5 days. Currently, 15.8% of the company’s shares are short sold.

A number of brokerages recently weighed in on LEGH. Zacks Investment Research upgraded shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a report on Wednesday, June 12th. B. Riley reiterated a “neutral” rating on shares of New York Community Bancorp in a report on Wednesday, April 10th.

NASDAQ LEGH traded down $0.08 on Thursday, hitting $12.76. 39,700 shares of the stock were exchanged, compared to its average volume of 76,004. The company has a current ratio of 2.83, a quick ratio of 1.09 and a debt-to-equity ratio of 0.05. Legacy Housing has a fifty-two week low of $8.93 and a fifty-two week high of $14.99. The firm has a market cap of $310.77 million and a P/E ratio of 11.93. The firm has a 50-day simple moving average of $12.72.

Legacy Housing (NASDAQ:LEGH) last posted its quarterly earnings results on Monday, May 13th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.22 by $0.07. The firm had revenue of $37.95 million for the quarter, compared to analyst estimates of $38.75 million. Analysts forecast that Legacy Housing will post 1.11 EPS for the current fiscal year.

In related news, major shareholder William G. Shipley sold 4,130 shares of Legacy Housing stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $12.91, for a total value of $53,318.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder William G. Shipley sold 4,000 shares of Legacy Housing stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $12.87, for a total transaction of $51,480.00. The disclosure for this sale can be found here. Insiders sold a total of 116,417 shares of company stock worth $1,509,669 over the last three months.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. acquired a new position in Legacy Housing during the 1st quarter worth approximately $46,000. Northern Trust Corp acquired a new position in Legacy Housing during the 4th quarter worth approximately $123,000. Spark Investment Management LLC acquired a new position in Legacy Housing during the 1st quarter worth approximately $210,000. Mesirow Financial Investment Management Inc. acquired a new position in Legacy Housing during the 1st quarter worth approximately $313,000. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new position in Legacy Housing during the 4th quarter worth approximately $1,850,000. Institutional investors own 15.66% of the company’s stock.

Legacy Housing Company Profile

Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses primarily in the southern United States. The company manufactures and provides for the transport of mobile homes; and offers wholesale financing to dealers and mobile home parks, as well as a range of homes, including 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms.

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