Legacy Housing Corp (NASDAQ:LEGH) director Francisco Javier Coll has purchased additional shares of the company, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on March 25, involved the acquisition of 1,650 shares at a price of $20.02 each, totaling approximately $33,033.
This recent purchase by Coll demonstrates a vote of confidence in the future of Legacy Housing Corp, a company known for its manufacturing of mobile homes. The acquisition has brought Coll's total ownership in the company to 1,951 shares. The director's decision to increase his stake in the company aligns with investor interest in insider buying patterns, which are often considered a positive signal about the company's prospects.
Investors typically monitor such transactions closely, as they can provide insights into an insider's belief in the company's value and potential growth. With this latest move, Coll has solidified his investment in Legacy Housing Corp, signaling potential optimism about the company's trajectory.
InvestingPro Insights
Legacy Housing Corp (NASDAQ:LEGH) has recently seen significant insider buying, which often suggests confidence in the company's future performance. In line with this, InvestingPro data and analysis provide additional context to understand the company's current financial health and market position. The P/E Ratio for LEGH stands at a modest 9.12, reflecting a potentially undervalued stock when compared to industry peers. Moreover, the company's Price / Book ratio as of the last twelve months ending Q4 2023 is 1.14, which can be attractive to value investors looking for assets that may be priced below their intrinsic value.
Despite some challenges, as indicated by a Revenue Growth of -26.41% over the last twelve months, LEGH has a strong Gross Profit Margin of 47.29%, which suggests that the company is able to retain a significant portion of revenue as gross profit. Additionally, with an Operating Income Margin of 34.15%, Legacy Housing Corp demonstrates its capability to manage its operating expenses effectively.
InvestingPro Tips highlight that the stock is currently in oversold territory according to RSI metrics, which could indicate a potential rebound opportunity for investors. Furthermore, analysts predict the company will be profitable this year, a sentiment that is supported by the company's performance over the last twelve months. It's also noteworthy that the company operates with a moderate level of debt and has liquid assets that exceed short-term obligations, underscoring a stable financial position.
For those interested in a deeper dive into LEGH's performance and potential, InvestingPro offers additional insights. In fact, there are 6 more InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/LEGH. To gain full access to these tips and more, use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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