Legacy Housing

LEGH

Legacy Housing Corporation is a mobile home manufacturer based in Bedford, Texas. They have manufacturing facilities in Commerce, Texas, Fort Worth, Texas, and Eatonton, Georgia. Legacy also directly sells homes through 13 retail stores and funds loans for their homes. Legacy Housing was founded in 2005 by Curtis D. Hodgson (chairman of the board) and Kenneth E. Shipley (president and CEO) as Legacy Housing, Ltd. It is traded on NASDAQ as LEGH, after an IPO on December 14 2018. The company repurchased over $3 million in stock in April 2019. The company has approximately 800 employees. In 2019 the company's gross revenue was $169 million, versus $162 million in 2018. Approximately half of their sales are in Texas. Their consumer (chattel) loan portfolio was worth $105 million at an average APR of 14%.

Legacy Housing has been a target of short sellers for a while. The current short interest of 3.12% is roughly at the average of the last 12 months (3.54%).