Legacy Housing (NASDAQ:LEGH) Now Covered by B. Riley

B. Riley assumed coverage on shares of Legacy Housing (NASDAQ:LEGH) in a research report report published on Friday morning, MarketBeat reports. The firm issued a neutral rating and a $26.00 price objective on the stock.

Legacy Housing Price Performance

LEGH stock opened at $23.60 on Friday. The business has a 50-day moving average price of $24.70 and a 200 day moving average price of $25.20. The company has a market capitalization of $569.44 million, a P/E ratio of 10.88 and a beta of 0.98. Legacy Housing has a 1-year low of $21.67 and a 1-year high of $29.31.

Legacy Housing (NASDAQ:LEGH) last released 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 firm had revenue of $35.70 million during the quarter, compared to the consensus estimate of $44.13 million. Legacy Housing had a net margin of 33.11% and a return on equity of 11.85%.

Institutional Trading of Legacy Housing

Several institutional investors and hedge funds have recently made changes to their positions in LEGH. Advisory Research Inc. raised its holdings in shares of Legacy Housing by 34.0% in the fourth quarter. Advisory Research Inc. now owns 472,935 shares of the company’s stock valued at $11,672,000 after acquiring an additional 120,000 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Legacy Housing by 93.7% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 247,770 shares of the company’s stock worth $6,249,000 after purchasing an additional 119,870 shares in the last quarter. Boston Partners raised its holdings in Legacy Housing by 543.2% in the first quarter. Boston Partners now owns 116,089 shares of the company’s stock worth $2,928,000 after purchasing an additional 98,040 shares in the last quarter. Robotti Robert raised its holdings in Legacy Housing by 72.8% in the first quarter. Robotti Robert now owns 221,304 shares of the company’s stock worth $5,581,000 after purchasing an additional 93,234 shares in the last quarter. Finally, Bfsg LLC bought a new position in Legacy Housing in the first quarter worth about $2,245,000. 89.35% of the stock is currently owned by 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.