Curtis Drew Hodgson, a director and significant shareholder of Legacy Housing Corp (NASDAQ:LEGH), a company currently valued at $606 million with strong financial health indicators including a healthy current ratio of 3.47, recently sold 17,300 shares of the company's common stock. The sale occurred on December 16, 2024, at a weighted average price of $25.20 per share, amounting to a total transaction value of $435,960. The stock currently trades at a P/E ratio of 11.26 and has shown a 10.7% price return over the past six months. Following this transaction, Hodgson directly owns 439,322 shares of Legacy Housing. Additionally, he holds indirect ownership through various entities, including Hodgson Ventures, Hodgson 2015 Grandchild's Trust, and Cusach, Inc., with shares totaling over 3.76 million. InvestingPro subscribers can access comprehensive insider trading analysis and 7 additional key insights about Legacy Housing's financial health and market position.
In other recent news, Legacy Housing Corporation (NASDAQ:LEGH) reported a mixed bag of results for Q3 2024, with product sales decreasing by $6.8 million or 18.3%, but interest income from consumer loans increasing by $1.5 million or 17.3%. Net income also saw a 1.8% decrease, settling at $15.8 million, and earnings per share fell by $0.01 or 1.5%. Despite these results, the company remains hopeful about future sales and production improvements, with a significant backlog of orders extending into Q1 2025 and plans to ramp up production rates in the final quarter of 2024.
Legacy Housing's shareholders recently approved executive compensation and elected five directors to serve for a one-year term. The company's annual meeting also saw shareholders recommend a triennial schedule for future "Say on Pay" votes. Post-meeting, Kenneth E. Shipley was elected as Chairman of the Board of Directors, and members were appointed to various committees.
The company also announced the appointment of Skyler M. Howton, a seasoned Dallas-based attorney, to its Board as a new independent director. Ms. Howton will serve on the Compensation Committee, the Nominations and Corporate Governance Committee, and the Audit Committee.
As part of its strategic plans, Legacy Housing sold excess land for $2.7 million and is currently developing 1,100 pads near Austin, Texas. The company is also focusing on opening new dealerships and adding independent dealers in strategic locations. These recent developments are part of the corporation's ongoing efforts to enhance its business operations.
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