Curtis Drew Hodgson, Chairman of the Board at Legacy Housing Corp (NASDAQ:LEGH), has sold 17,300 shares of the company's common stock. According to InvestingPro analysis, the company currently trades above its Fair Value, with analyst price targets ranging from $29 to $34. The shares were sold at an average price of $25.96 each, amounting to a total transaction value of approximately $449,108. Following this transaction, Hodgson holds 473,922 shares directly. Additionally, he has indirect ownership of shares through various entities, including Hodgson Ventures, Hodgson 2015 Grandchild's Trust, and Cusach, Inc. This sale was conducted under a pre-arranged trading plan established in May 2024. The company maintains strong financial health with a current ratio of 3.47 and trades at a P/E ratio of 11.71. Discover more insights and detailed analysis with InvestingPro's comprehensive research report, available for over 1,400 US stocks.
In other recent news, Legacy Housing Corporation (NASDAQ:LEGH) has announced a mixed bag of developments. The company appointed Skyler M. Howton, a seasoned Dallas-based attorney, as a new independent director to its Board. This follows the resignation of Francisco J. Coll. Ms. Howton will serve on several committees and brings a wealth of legal experience, particularly in litigation management and product liability claims.
On the financial front, Legacy Housing reported mixed results for Q3 2024, with a decrease in product sales of $6.8 million (18.3%), but an increase in interest income from consumer loans by $1.5 million (17.3%). Net income decreased by 1.8% to $15.8 million, and earnings per share fell by $0.01 (1.5%). Despite these results, the company remains optimistic about future sales and production improvements, with a significant backlog of orders extending into Q1 2025.
Additionally, Legacy Housing sold excess land for $2.7 million and is currently developing 1,100 pads near Austin. As part of its strategic plans, the company is opening new dealerships and focusing on adding independent dealers in strategic locations. These recent developments signify the company's efforts to navigate the current market conditions and position itself for potential growth in the coming quarters.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.