Legacy Housing (NASDAQ:LEGH) Sets New 52-Week Low - Here's What Happened

Legacy Housing Corporation (NASDAQ:LEGH - Get Free Report) shares reached a new 52-week low on Tuesday . The stock traded as low as $21.67 and last traded at $21.71, with a volume of 161058 shares traded. The stock had previously closed at $22.05.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LEGH shares. Wall Street Zen raised Legacy Housing from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. B. Riley assumed coverage on Legacy Housing in a research note on Friday, May 16th. They issued a "neutral" rating and a $26.00 price target on the stock.

Legacy Housing Trading Up 2.0%

The firm has a market cap of $531.60 million, a PE ratio of 9.63 and a beta of 0.85. The company's 50-day moving average is $23.39 and its 200 day moving average is $24.56.

Legacy Housing (NASDAQ:LEGH - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.16). The business had revenue of $35.70 million for the quarter, compared to analysts' expectations of $44.13 million. Legacy Housing had a net margin of 32.15% and a return on equity of 11.71%.

Institutional Trading of Legacy Housing

Hedge funds have recently made changes to their positions in the stock. Bard Associates Inc. increased its stake in Legacy Housing by 1.1% in the 4th quarter. Bard Associates Inc. now owns 199,548 shares of the company's stock valued at $4,925,000 after buying an additional 2,134 shares during the period. Boston Partners grew its holdings in shares of Legacy Housing by 37.9% during the 4th quarter. Boston Partners now owns 18,049 shares of the company's stock valued at $445,000 after acquiring an additional 4,964 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Legacy Housing during the 4th quarter valued at $49,000. Vanguard Group Inc. increased its stake in shares of Legacy Housing by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 623,287 shares of the company's stock worth $15,383,000 after acquiring an additional 80,982 shares during the last quarter. Finally, Brandywine Global Investment Management LLC raised its holdings in shares of Legacy Housing by 56.1% during the fourth quarter. Brandywine Global Investment Management LLC now owns 81,970 shares of the company's stock worth $2,023,000 after acquiring an additional 29,460 shares in the last quarter. 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.