Curtis Drew Hodgson, a director and significant shareholder of Legacy Housing Corp (NASDAQ:LEGH), recently sold shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Hodgson sold a total of 17,300 shares over two days, December 30 and 31, 2024. The sale was executed under a pre-arranged trading plan, with prices ranging from $24.53 to $24.62 per share, resulting in a total transaction value of approximately $425,099. The transaction occurred near the stock’s current trading price of $24.78, which sits between its 52-week range of $19.42 to $29.30.
Following these transactions, Hodgson retains direct ownership of 404,722 shares in Legacy Housing. Additionally, through indirect holdings, he maintains significant stakes via entities such as Hodgson Ventures and the Hodgson 2015 Grandchild’s Trust. These indirect holdings include 1,000,000 shares through Hodgson Ventures and 2,669,056 shares through the Hodgson 2015 Grandchild’s Trust, among others. InvestingPro analysis reveals the company maintains strong financial health with an overall "GOOD" rating and operates with minimal debt.
Legacy Housing, headquartered in Bedford, Texas, is a manufacturer of mobile homes, providing affordable housing solutions across the United States. According to InvestingPro data, the company trades at a P/E ratio of 11.09x and has attracted analyst price targets ranging from $29 to $34, suggesting potential upside. The company maintains healthy profit margins, with a gross profit margin of 50.17% in the last twelve months.
In other recent news, Legacy Housing Corporation (NASDAQ:LEGH) has been making significant strides in its business operations. The company’s Q3 2024 financial results showed mixed outcomes, with product sales decreasing by $6.8 million, or 18.3%, while interest income from consumer loans increased by $1.5 million, or 17.3%. Net income saw a slight dip of 1.8% to $15.8 million, with earnings per share down by $0.01, a 1.5% decrease.
In addition to these financial developments, Legacy Housing’s shareholders have approved executive pay, as indicated by the "Say on Pay" resolution passing with 19,951,629 votes in favor. The company’s Annual Shareholders’ Meeting also saw the election of five directors, including Kenneth E. Shipley as Chairman of the Board.
Further, Legacy Housing has appointed Skyler M. Howton, a seasoned Dallas-based attorney, as a new independent director to its Board. This appointment comes along with the company’s plans to open new dealerships and add independent dealers at strategic locations. In line with its strategic plans, Legacy Housing has also sold excess land for $2.7 million and is developing 1,100 pads near Austin, Texas.
These recent developments reflect Legacy Housing’s commitment to enhancing its business operations and governance. Despite facing some revenue challenges, the company maintains a strong financial profile and is optimistic about future sales and production improvements.
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