Short Interest in Legacy Housing Corp (NASDAQ:LEGH) Expands By 60.7%

Legacy Housing Corp (NASDAQ:LEGH) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 592,300 shares, an increase 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 shares of the company are sold short.

In other news, CEO Kenneth E. Shipley sold 4,001 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $12.86, for a total value of $51,452.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Curtis Drew Hodgson sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $12.98, for a total value of $1,298,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,186 shares of company stock valued at $1,545,251.

A number of hedge funds and other institutional investors have recently made changes to their positions in LEGH. Marshall Wace North America L.P. bought a new position in Legacy Housing in the first quarter valued at approximately $46,000. Spark Investment Management LLC acquired a new position in Legacy Housing in the 1st quarter valued at $210,000. Mesirow Financial Investment Management Inc. acquired a new position in Legacy Housing in the 1st quarter valued at $313,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in Legacy Housing in the 4th quarter valued at $1,850,000. Finally, Northern Trust Corp acquired a new position in Legacy Housing in the 4th quarter valued at $123,000. 15.66% of the stock is owned by institutional investors and hedge funds.

NASDAQ LEGH traded up $0.09 on Friday, hitting $12.85. 42,337 shares of the stock traded hands, compared to its average volume of 60,240. The stock’s fifty day simple moving average is $12.72. Legacy Housing has a 12 month low of $8.93 and a 12 month high of $14.99. The company has a market cap of $315.46 million and a price-to-earnings ratio of 12.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.83 and a quick ratio of 1.09.

Legacy Housing (NASDAQ:LEGH) last announced its quarterly earnings data on Monday, May 13th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.07. The firm had revenue of $37.95 million for the quarter, compared to the consensus estimate of $38.75 million. On average, analysts forecast that Legacy Housing will post 1.11 earnings per share for the current fiscal year.

Several brokerages have weighed in on LEGH. B. Riley reissued a “neutral” rating on shares of New York Community Bancorp in a report on Wednesday, April 10th. Zacks Investment Research raised 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.

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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