Legacy Housing (NASDAQ:LEGH) Reaches New 1-Year Low - Here's Why

Shares of Legacy Housing Co. (NASDAQ:LEGH - Get Free Report) hit 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 trading hands. The stock had previously closed at $22.05.

Wall Street Analyst Weigh In

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

Legacy Housing Stock Performance

The stock has a market cap of $523.60 million, a P/E ratio of 10.00 and a beta of 0.85. The company's 50 day moving average price is $23.51 and its 200-day moving average price is $24.63.

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). Legacy Housing had a return on equity of 11.85% and a net margin of 33.11%. The company had revenue of $35.70 million during the quarter, compared to analysts' expectations of $44.13 million.

Institutional Investors Weigh In On Legacy Housing

Several large investors have recently modified their holdings of the stock. Advisory Research Inc. boosted its position in Legacy Housing by 34.0% during the fourth quarter. Advisory Research Inc. now owns 472,935 shares of the company's stock worth $11,672,000 after purchasing an additional 120,000 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in Legacy Housing by 93.7% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 247,770 shares of the company's stock valued at $6,249,000 after buying an additional 119,870 shares in the last quarter. Boston Partners raised its holdings in Legacy Housing by 543.2% during the 1st quarter. Boston Partners now owns 116,089 shares of the company's stock valued at $2,928,000 after acquiring an additional 98,040 shares during the period. Robotti Robert lifted its position in shares of Legacy Housing by 72.8% during the first quarter. Robotti Robert now owns 221,304 shares of the company's stock worth $5,581,000 after acquiring an additional 93,234 shares in the last quarter. Finally, Bfsg LLC bought a new position in shares of Legacy Housing in the first quarter worth $2,245,000. Hedge funds and other 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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