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"At my entry point, around book value, Legacy’s valuation looked reasonable. The stock now trades at roughly 11 times earnings, 1.1 times book, and 27 times free cash flow. It’s not a screaming bargain, but if the company continues earning a mid-teens return on assets, buying near book value should produce long-term returns above the market average. The company doesn’t pay a dividend, but it has repurchased about $6.5 million in stock , which is nice but isn’t moving the needle much."
Legacy Housing is a micro cap manufacturer of mobile homes, an interesting play on the housing shortage
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