Legacy Housing (NASDAQ:LEGH) Rating Lowered 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 research report issued to clients and investors on Sunday.

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

Legacy Housing Price Performance

Shares of Legacy Housing stock traded down $0.57 during trading hours on Friday, reaching $22.13. The company's stock had a trading volume of 70,995 shares, compared to its average volume of 71,225. The firm has a 50 day moving average price of $23.26 and a 200-day moving average price of $24.47. The stock has a market cap of $533.78 million, a P/E ratio of 9.66 and a beta of 0.85. Legacy Housing has a one year low of $21.58 and a one year high of $29.31.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.16). The company had revenue of $35.70 million for 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bfsg LLC purchased a new position in shares of Legacy Housing during the first quarter valued at approximately $2,245,000. BNP Paribas Financial Markets boosted its holdings in Legacy Housing by 42.6% during the 4th quarter. BNP Paribas Financial Markets now owns 7,985 shares of the company's stock valued at $197,000 after acquiring an additional 2,385 shares during the period. Squarepoint Ops LLC grew its position in Legacy Housing by 139.1% in the 4th quarter. Squarepoint Ops LLC now owns 33,604 shares of the company's stock valued at $829,000 after acquiring an additional 19,550 shares during the last quarter. Ameriprise Financial Inc. grew its position in Legacy Housing by 2.8% in the 4th quarter. Ameriprise Financial Inc. now owns 427,619 shares of the company's stock valued at $10,554,000 after acquiring an additional 11,612 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Legacy Housing by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 713,928 shares of the company's stock worth $17,619,000 after purchasing an additional 48,268 shares during the period. 89.35% of the stock is owned by hedge funds and other institutional investors.

Legacy Housing Company Profile

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.