On Friday, Legacy Housing Corp (NASDAQ: LEGH) shares recorded trading volume 4.6K shares as compared to its average volume of 28.64K shares. The shares price traded between $15.63 and $15.99 during the last trading session gained with 1.78% at $15.98. Over the one year trading period, the stock has a peak price of $17.4 and its down is recorded at $8.93.
Legacy Housing Corporation’s (LEGH) stock price showed strong performance of 2.17% in last seven days, switched down -2.98% in last thirty days. It has 24.29 million of outstanding shares and its shares float measured at 5.21.
Legacy Housing Corp (NASDAQ: LEGH) recently reported its financial results for the second quarter ended June 30, 2019.
Financial Highlights:
- Revenue for the second quarter of 2019 was $45.8M, contrast to $44.0M in the second quarter of 2018, a raise of $1.8M or 4%.
- Gross margin percentage increased to 29.9% from 23.2% from the previous year as a result of price increases, increased sales to manufactured home parks, and increased company-owned retail sales directly to consumers.
- The manufactured home park loan portfolio increased by $14.1M to a total of $72.0M, a raise of 24% from the end of 2018. The consumer loan portfolio increased to $101.0M, inclusive of the allowance for loan loss and other discounts.
- Earnings before taxes grew $2.5M or 28% to $11.4M in the second quarter contrast to the previous year quarter. Net income was $8.6M in the second quarter of 2019, contrast to $6.9M for the comparable period in 2018, a 25% increase in net income.
- The Company’s revenue and net income increases came exclusively from organic growth.
- Earnings per share for the second quarter of 2019, based on diluted weighted average shares outstanding, was $0.35 on 24.37M diluted outstanding shares versus $0.34 on 20.00M outstanding shares for the comparable quarter in 2018. The increase in shares reflects those shares sold pursuant to the Company’s successful initial public offering.
