Curtis Drew Hodgson, Chairman of the Board at Legacy Housing Corp (NASDAQ:LEGH), lately offered 17,300 shares of the corporate’s frequent inventory. The shares had been offered at a mean value of $26.53 every, totaling roughly $458,969. Following this transaction, Hodgson holds 491,222 shares straight. Moreover, he maintains oblique possession via varied entities, together with Hodgson Ventures, which owns 1,000,000 shares, the Hodgson 2015 Grandchild’s Belief with 2,669,056 shares, and Cusach, Inc. with 100,000 shares. The sale was carried out beneath a 10b5-1 buying and selling plan, which permits insiders to arrange a predetermined plan to promote shares.
In different current information, Legacy Housing Company (NASDAQ:) introduced a collection of noteworthy developments. The company appointed Skyler M. Howton, a seasoned Dallas-based legal professional, as a brand new unbiased director to its Board following the resignation of Francisco J. Coll. Ms. Howton will serve on a number of committees and brings a wealth of authorized experience, notably in litigation administration and product legal responsibility claims.
By way of monetary efficiency, Legacy Housing reported combined outcomes for Q3 2024. The corporate skilled a lower in product gross sales by $6.8 million (18.3%) however noticed a rise in curiosity earnings from client loans by $1.5 million (17.3%). Internet earnings additionally decreased by 1.8% to $15.8 million, and earnings per share fell by $0.01 (1.5%).
Regardless of these figures, the company stays optimistic about future gross sales and manufacturing enhancements. A big backlog of orders is extending into Q1 2025, and there are plans to extend manufacturing charges in This autumn 2024. Legacy Housing additionally offered extra land for $2.7 million and is within the means of creating 1,100 pads close to Austin. As a part of its strategic plans, the corporate is opening new dealerships and specializing in including unbiased sellers in strategic areas.
InvestingPro Insights
To supply extra context to Curtis Drew Hodgson’s current inventory sale, let’s study some key monetary metrics and insights from InvestingPro for Legacy Housing Corp (NASDAQ:LEGH).
As of the most recent information, Legacy Housing Corp has a market capitalization of $645.99 million and a P/E ratio of 11.95, suggesting a comparatively modest valuation in comparison with some business friends. The corporate’s income for the final twelve months stands at $163.72 million, though it is price noting that there was a income decline of 29.12% over this era.
Regardless of the income contraction, Legacy Housing Corp maintains a robust gross revenue margin of fifty.17% and a powerful working earnings margin of 35.32%. These figures point out that the corporate has been in a position to preserve profitability even within the face of declining gross sales.
InvestingPro Ideas spotlight that Legacy Housing Corp operates with a average stage of debt and that its liquid property exceed short-term obligations. These elements contribute to the corporate’s monetary stability, which can be reassuring to buyers in gentle of the insider sale.
One other InvestingPro Tip factors out that analysts anticipate a gross sales decline within the present yr, which aligns with the current income tendencies. Nonetheless, it is also famous that analysts predict the corporate will stay worthwhile this yr, suggesting confidence in Legacy Housing Corp’s capacity to handle prices successfully.
For buyers searching for a extra complete evaluation, InvestingPro provides 5 extra suggestions that might present additional insights into Legacy Housing Corp’s monetary well being and future prospects.
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