Curtis Drew Hodgson, Chairman of the Board at Legacy Housing Corp (NASDAQ:LEGH), recently sold a significant portion of the company's stock. According to a recent SEC filing, Hodgson sold 7,700 shares of common stock on November 4 at an average price of $25.57 per share, and an additional 9,600 shares on November 5 at an average price of $25.51 per share. The total value of these transactions amounts to approximately $441,785. Following these transactions, Hodgson retains direct ownership of 542,741 shares. Additionally, he holds indirect ownership through various entities, including Hodgson Ventures, the Hodgson 2015 Grandchild's Trust, and Cusach, Inc.
InvestingPro Insights
To provide additional context to Curtis Drew Hodgson's recent stock sale, let's examine some key financial metrics and insights from InvestingPro for Legacy Housing Corp (NASDAQ:LEGH).
As of the latest data, Legacy Housing Corp has a market capitalization of $632.58 million. The company's P/E ratio stands at 11.62, suggesting that the stock is trading at a relatively modest valuation compared to its earnings. This could indicate that the market is not overly optimistic about the company's growth prospects, which aligns with the chairman's decision to sell shares.
An InvestingPro Tip reveals that Legacy Housing operates with a moderate level of debt. This financial prudence is further supported by another tip indicating that the company's liquid assets exceed its short-term obligations. These factors contribute to a solid financial foundation, which may provide some reassurance to investors despite the insider selling activity.
It's worth noting that Legacy Housing's revenue for the last twelve months as of Q2 2024 was $169.39 million, with a revenue growth rate of -28.94% over the same period. This decline in revenue could be a contributing factor to the chairman's decision to reduce his stake in the company.
On a positive note, the company maintains a strong gross profit margin of 50.97% and an impressive operating income margin of 36.32% for the last twelve months. These healthy margins suggest that Legacy Housing is managing its costs effectively, even in the face of revenue challenges.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics. Currently, there are 6 more InvestingPro Tips available for Legacy Housing Corp, providing a deeper understanding of the company's financial health and market position.
Curtis Drew Hodgson, Chairman of the Board at Legacy Housing Corp (NASDAQ:LEGH), recently sold a significant portion of the company's stock. According to a recent SEC filing, Hodgson sold 7,700 shares of common stock on November 4 at an average price of $25.57 per share, and an additional 9,600 shares on November 5 at an average price of $25.51 per share. The total value of these transactions amounts to approximately $441,785. Following these transactions, Hodgson retains direct ownership of 542,741 shares. Additionally, he holds indirect ownership through various entities, including Hodgson Ventures, the Hodgson 2015 Grandchild's Trust, and Cusach, Inc.
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