Legacy Housing (NASDAQ:LEGH) Cut to "Sell" at Wall Street Zen

Legacy Housing (NASDAQ:LEGH - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Sunday.

Separately, B. Riley started coverage on Legacy Housing in a research note on Friday, May 16th. They set a "neutral" rating and a $26.00 target price on the stock.

Legacy Housing Stock Up 1.7%

NASDAQ LEGH opened at $21.98 on Friday. The stock's 50-day moving average price is $23.35 and its 200-day moving average price is $24.52. Legacy Housing has a 52 week low of $21.58 and a 52 week high of $29.31. The company has a market capitalization of $530.16 million, a P/E ratio of 9.60 and a beta of 0.85.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.16). The company had revenue of $35.70 million during the quarter, compared to the consensus estimate of $44.13 million. Legacy Housing had a return on equity of 11.71% and a net margin of 32.15%.

Institutional Trading of Legacy Housing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. MetLife Investment Management LLC raised its stake in Legacy Housing by 18.5% during the 4th quarter. MetLife Investment Management LLC now owns 6,924 shares of the company's stock valued at $171,000 after purchasing an additional 1,081 shares during the period. Wells Fargo & Company MN grew its holdings in Legacy Housing by 22.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,581 shares of the company's stock valued at $162,000 after buying an additional 1,195 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Legacy Housing during the 4th quarter valued at approximately $33,000. Geode Capital Management LLC grew its holdings in Legacy Housing by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 271,125 shares of the company's stock valued at $6,693,000 after buying an additional 1,800 shares in the last quarter. Finally, Barclays PLC grew its holdings in Legacy Housing by 10.6% during the 4th quarter. Barclays PLC now owns 19,174 shares of the company's stock valued at $473,000 after buying an additional 1,836 shares in the last quarter. Institutional investors own 89.35% of the company's stock.

About Legacy Housing

Legacy Housing Corporation engages in the building, sale, and financing of manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides for the transport of mobile homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms; and provides wholesale financing to dealers and mobile home parks, as well as retail financing to consumers.

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