Legacy Housing Corporation (LEGH) – The -18.5% Downside Potential Remains

Legacy Housing Corporation (NASDAQ: LEGH) is -14.54% lower on its value in year-to-date trading and has touched a low of $8.50 and a high of $17.50 in the current 52-week trading range. The LEGH stock was last observed hovering at around $14.06 in the last trading session, with the day’s gains setting it 0.16% off its average median price target of $12.00 for the next 12 months. It is also -1.57% off the consensus price target high of $14.00 offered by 2 analysts, but current levels are -42.2% lower than the price target low of $10.00 for the same period.

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Currently trading at $14.22, the stock is 5.22% and 19.92% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 25119.0 and changing 1.14% at the moment leaves the stock 3.76% off its SMA200. LEGH registered 13.49% gain for a year compared to 6-month loss of -16.35%. The firm has a 50-day simple moving average (SMA 50) of $12.70 and a 200-day simple moving average (SMA200) of $12.77.

The stock witnessed a 11.53% gain in the last 1 month and extending the period to 3 months gives it a 53.73%, and is 5.49% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.94% over the week and 5.90% over the month.

Legacy Housing Corporation (LEGH) has around 800 employees, a market worth around $365.17M and $169.30M in sales. Current P/E ratio is 11.31 and Fwd P/E is 10.77. Profit margin for the company is 18.10%. Distance from 52-week low is 67.29% and -18.74% from its 52-week high. The company has generated returns on investments over the last 12 months (11.50%).

Legacy Housing Corporation (LEGH) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Legacy Housing Corporation (LEGH) is a “Overweight”. 2 analysts offering their recommendations for the stock have an average rating of 2.50, where 1 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Legacy Housing Corporation is expected to release its quarterly report on 08/18/2020 and quarterly earnings per share for the current quarter are estimated at $0.33 with sales reaching $41.94M over the same period.The EPS is expected to grow by 35.60% this year, but quarterly earnings will post -3.10% year-over-year. Quarterly sales are estimated to shrink -8.30% in year-over-year returns.

Legacy Housing Corporation (LEGH) Top Institutional Holders

86 institutions hold shares in Legacy Housing Corporation (LEGH), with 19.14M shares held by insiders accounting for 78.45% while institutional investors hold 76.63% of the company’s shares. The shares outstanding are 24.32M, and float is at 5.34M with Short Float at 1.98%. Institutions hold 16.51% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 0.51 million shares valued at $4.75 million. The investor’s holdings represent 2.07% of the LEGH Shares outstanding. As of Mar 30, 2020, the second largest holder is Voss Capital, LLC with 0.4 million shares valued at $3.74 million to account for 1.63% of the shares outstanding. The other top investors are Blackrock Inc. which holds 0.33 million shares representing 1.33% and valued at over $3.04 million, while Ameriprise Financial, Inc. holds 1.19% of the shares totaling 0.3 million with a market value of $2.73 million.

Legacy Housing Corporation (LEGH) Insider Activity

A total of 19 insider transactions have happened at Legacy Housing Corporation (LEGH) in the last six months, with sales accounting for 18 and purchases happening 1 times. The most recent transaction is an insider sale by Hodgson Curtis Drew, the company’s Chairman of the Board. SEC filings show that Hodgson Curtis Drew sold 100 shares of the company’s common stock on Mar 05 at a price of $14.80 per share for a total of $1480.0. Following the sale, the insider now owns 3.2 million shares.

Legacy Housing Corporation disclosed in a document filed with the SEC on Mar 05 that Shipley Kenneth E (Chief Executive Officer) sold a total of 96 shares of the company’s common stock. The trade occurred on Mar 05 and was made at $14.80 per share for $1421.0. Following the transaction, the insider now directly holds 3.21 million shares of the LEGH stock.

Still, SEC filings show that on Mar 04, Shipley Kenneth E (Chief Executive Officer) disposed off 209 shares at an average price of $14.80 for $3093.0. The insider now directly holds 3,214,958 shares of Legacy Housing Corporation (LEGH).

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