Legacy Housing (LEGH) Downgraded by Zacks Investment Research to “Sell”

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Zacks Investment Research downgraded shares of Legacy Housing (NASDAQ:LEGH) from a hold rating to a sell rating in a report released on Saturday morning, Zacks.com reports.

According to Zacks, “Legacy Housing Corporation builds, sells and finances manufactured homes distributed through independent retailers and company-owned stores as well as directly to manufactured housing communities. It operates primarily in the southern United States. Legacy Housing Corporation is based in Bedford, Texas. “

LEGH has been the topic of a number of other reports. Oak Ridge Finl. reaffirmed a buy rating on shares of Legacy Housing in a research report on Tuesday, January 8th. B. Riley dropped their target price on shares of Legacy Housing from $17.00 to $14.00 and set a buy rating on the stock in a research report on Wednesday, April 10th.

NASDAQ LEGH opened at $11.23 on Friday. The firm has a market capitalization of $236.10 million and a P/E ratio of 10.50. Legacy Housing has a 12 month low of $8.93 and a 12 month high of $14.99.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Knott David M purchased a new position in shares of Legacy Housing in the 4th quarter valued at $108,000. Northern Trust Corp purchased a new position in shares of Legacy Housing in the 4th quarter valued at $123,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of Legacy Housing in the 1st quarter valued at $313,000. Monarch Partners Asset Management LLC purchased a new position in shares of Legacy Housing in the 4th quarter valued at $512,000. Finally, Boston Partners purchased a new position in shares of Legacy Housing in the 4th quarter valued at $1,095,000. 14.11% of the stock is currently owned by hedge funds and other institutional investors.

About Legacy Housing

Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses primarily in the southern United States. It manufactures and provides services for the transport of mobile homes; offers wholesale financing services to dealers and mobile home parks; and provides retail financing services to consumers.

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