Curtis Drew Hodgson, a director and significant shareholder of Legacy Housing Corp (NASDAQ:LEGH), recently executed a sale of company shares. According to the latest SEC filing, Hodgson sold 10,468 shares of Legacy Housing common stock on January 6, 2025. The shares were sold at an average price of $23.65, amounting to a total transaction value of $247,568. The transaction occurred with the stock trading near its InvestingPro Fair Value, while analyst targets suggest potential upside with price targets ranging from $29 to $34.
Following this transaction, Hodgson holds 394,254 shares directly. Additionally, he maintains indirect ownership through various entities: 1,000,000 shares via Hodgson Ventures, 2,669,056 shares through the Hodgson 2015 Grandchild's Trust, and 100,000 shares under Cusach, Inc. The shares sold were part of a pre-arranged trading plan established on May 15, 2024. InvestingPro data shows the company maintains strong financial health with a "Good" overall score, operating with moderate debt levels and sufficient liquidity. Discover more insights and 7 additional ProTips with an InvestingPro subscription.
In other recent news, Legacy Housing Corporation (NASDAQ:LEGH) reported mixed financial results for Q3 2024. The company saw a decrease in product sales by $6.8 million, or 18.3%, but an increase in interest income from consumer loans by $1.5 million, or 17.3%. The company's net income also decreased by 1.8% to $15.8 million, and earnings per share fell by $0.01, a decrease of 1.5%.
In recent developments, Legacy Housing Corporation shareholders approved executive pay and elected five directors, including Curtis D. Hodgson and Kenneth E. Shipley, in their Annual Shareholders' Meeting. Shareholders also expressed a preference for a triennial schedule for future "Say on Pay" votes. Following the meeting, Kenneth E. Shipley was elected as Chairman of the Board of Directors.
The company has also announced the appointment of Skyler M. Howton, a seasoned Dallas-based attorney, as a new independent director to its Board. In addition to this, Legacy Housing has sold excess land for $2.7 million and is currently developing 1,100 pads near Austin, Texas. As part of its strategic plans, the company is opening new dealerships and focusing on adding independent dealers in strategic locations.
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