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

B. Riley upgraded shares of Legacy Housing (NASDAQ:LEGH) to a hold rating in a report released on Thursday,Zacks.com reports.

Legacy Housing Stock Performance

NASDAQ:LEGH opened at $23.60 on Thursday. The stock has a market capitalization of $569.44 million, a P/E ratio of 10.88 and a beta of 0.98. The company has a 50 day moving average price of $24.67 and a 200 day moving average price of $25.19. Legacy Housing has a fifty-two week low of $21.67 and a fifty-two week high of $29.31.

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

Institutional Investors Weigh In On Legacy Housing

A number of hedge funds have recently added to or reduced their stakes in LEGH. Aquatic Capital Management LLC acquired a new stake in Legacy Housing during the 4th quarter worth approximately $33,000. KLP Kapitalforvaltning AS acquired a new stake in Legacy Housing during the 4th quarter worth approximately $49,000. GAMMA Investing LLC lifted its holdings in Legacy Housing by 6,650.0% during the 1st quarter. GAMMA Investing LLC now owns 2,295 shares of the company’s stock worth $58,000 after buying an additional 2,261 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Legacy Housing during the 1st quarter worth approximately $116,000. Finally, JPMorgan Chase & Co. lifted its holdings in Legacy Housing by 11.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,423 shares of the company’s stock worth $148,000 after buying an additional 543 shares in the last quarter. 89.35% of the stock is currently owned by institutional investors and hedge funds.

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.