Legacy Housing (NASDAQ:LEGH) Upgraded to Hold at Wall Street Zen

Legacy Housing (NASDAQ:LEGH - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Separately, B. Riley began coverage on shares of Legacy Housing in a research note on Friday, May 16th. They issued a "neutral" rating and a $26.00 target price for the company.

Legacy Housing Stock Down 1.5%

Shares of Legacy Housing stock traded down $0.34 during trading on Friday, hitting $21.71. 161,058 shares of the company were exchanged, compared to its average volume of 69,786. Legacy Housing has a fifty-two week low of $21.67 and a fifty-two week high of $29.31. The stock has a market capitalization of $523.60 million, a price-to-earnings ratio of 9.48 and a beta of 0.85. The firm has a 50 day moving average price of $23.47 and a 200 day moving average price of $24.61.

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 (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.16). Legacy Housing had a return on equity of 11.71% and a net margin of 32.15%. The company had revenue of $35.70 million for the quarter, compared to analyst estimates of $44.13 million.

Institutional Trading of Legacy Housing

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Voss Capital LP grew its stake in Legacy Housing by 8.7% in the 4th quarter. Voss Capital LP now owns 928,599 shares of the company's stock worth $22,918,000 after acquiring an additional 74,087 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Legacy Housing by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 713,928 shares of the company's stock valued at $17,619,000 after buying an additional 48,268 shares during the period. GW&K Investment Management LLC grew its stake in shares of Legacy Housing by 2.0% during the 1st quarter. GW&K Investment Management LLC now owns 686,414 shares of the company's stock valued at $17,311,000 after buying an additional 13,720 shares during the period. Vanguard Group Inc. grew its stake in shares of Legacy Housing by 14.9% during the 4th quarter. Vanguard Group Inc. now owns 623,287 shares of the company's stock valued at $15,383,000 after buying an additional 80,982 shares during the period. Finally, Advisory Research Inc. grew its stake in shares of Legacy Housing by 34.0% during the 4th quarter. Advisory Research Inc. now owns 472,935 shares of the company's stock valued at $11,672,000 after buying an additional 120,000 shares during the period. 89.35% of the stock is owned by hedge funds and other institutional investors.

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.