Short Interest in Legacy Housing Co. (NASDAQ:LEGH) Drops By 9.0%

Legacy Housing Co. (NASDAQ:LEGHGet Rating) was the target of a large drop in short interest in August. As of August 15th, there was short interest totalling 241,600 shares, a drop of 9.0% from the July 31st total of 265,500 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average trading volume of 43,700 shares, the short-interest ratio is currently 5.5 days.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LEGH. B. Riley cut Legacy Housing from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Tuesday, June 14th. TheStreet lowered shares of Legacy Housing from a “b-” rating to a “c” rating in a research note on Tuesday, July 12th. Finally, EF Hutton Acquisition Corp I started coverage on shares of Legacy Housing in a research note on Monday, August 8th. They issued a “buy” rating and a $25.00 price objective for the company.

Institutional Trading of Legacy Housing

Several institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its position in Legacy Housing by 35.1% during the 4th quarter. American Century Companies Inc. now owns 19,074 shares of the company’s stock worth $505,000 after purchasing an additional 4,956 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Legacy Housing by 24.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 101,446 shares of the company’s stock worth $2,685,000 after buying an additional 19,645 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Legacy Housing in the 4th quarter valued at about $99,000. Timelo Investment Management Inc. purchased a new stake in Legacy Housing during the 4th quarter valued at approximately $4,209,000. Finally, Acadian Asset Management LLC acquired a new stake in Legacy Housing during the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 21.34% of the company’s stock.

Legacy Housing Price Performance

Shares of NASDAQ LEGH opened at $17.09 on Thursday. The company has a current ratio of 2.21, a quick ratio of 1.22 and a debt-to-equity ratio of 0.03. The stock has a market cap of $417.10 million, a P/E ratio of 8.85 and a beta of 1.07. The stock has a 50 day moving average of $15.02 and a two-hundred day moving average of $18.22. Legacy Housing has a twelve month low of $11.96 and a twelve month high of $28.84.

Legacy Housing Company Profile

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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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