Legacy Housing (NASDAQ:LEGH) Upgraded to Hold at B. Riley

B. Riley upgraded shares of Legacy Housing (NASDAQ:LEGH) to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Legacy Housing Price Performance

Shares of NASDAQ:LEGH opened at $23.60 on Thursday. Legacy Housing has a 1 year low of $21.67 and a 1 year high of $29.31. The business has a 50 day simple moving average of $24.70 and a two-hundred day simple moving average of $25.20. The firm has a market capitalization of $569.44 million, a PE ratio of 10.88 and a beta of 0.98.

Legacy Housing (NASDAQ:LEGH) last announced its earnings results 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 net margin of 33.11% and a return on equity of 11.85%. The business had revenue of $35.70 million for the quarter, compared to analysts’ expectations of $44.13 million.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Meixler Investment Management Ltd. boosted its position in shares of Legacy Housing by 0.5% during the fourth quarter. Meixler Investment Management Ltd. now owns 107,440 shares of the company’s stock valued at $2,652,000 after buying an additional 541 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Legacy Housing by 11.1% during the third quarter. JPMorgan Chase & Co. now owns 5,423 shares of the company’s stock valued at $148,000 after acquiring an additional 543 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Legacy Housing by 9.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 11,706 shares of the company’s stock valued at $289,000 after acquiring an additional 1,030 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Legacy Housing by 18.5% during the fourth quarter. MetLife Investment Management LLC now owns 6,924 shares of the company’s stock valued at $171,000 after acquiring an additional 1,081 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Legacy Housing by 22.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,581 shares of the company’s stock valued at $162,000 after acquiring an additional 1,195 shares in the last quarter. 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.