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Legacy Housing Co. (NASDAQ:LEGH - Get Rating) was the recipient of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 122,400 shares, an increase of 23.8% from the May 15th total of 98,900 shares. Approximately 1.4% of the company's shares are short sold. Based on an average trading volume of 34,900 shares, the short-interest ratio is presently 3.5 days.
Separately, B. Riley downgraded Legacy Housing from a "buy" rating to a "neutral" rating and set a $16.00 target price for the company. in a research report on Tuesday.
Large investors have recently added to or reduced their stakes in the stock. Timelo Investment Management Inc. acquired a new stake in Legacy Housing during the fourth quarter valued at approximately $4,209,000. CastleKnight Management LP acquired a new stake in Legacy Housing during the fourth quarter valued at approximately $265,000. Dimensional Fund Advisors LP raised its stake in Legacy Housing by 52.8% during the third quarter. Dimensional Fund Advisors LP now owns 81,801 shares of the company's stock valued at $1,470,000 after buying an additional 28,256 shares in the last quarter. Denali Advisors LLC acquired a new stake in Legacy Housing during the fourth quarter valued at approximately $119,000. Finally, Barclays PLC raised its stake in Legacy Housing by 294.5% during the third quarter. Barclays PLC now owns 4,269 shares of the company's stock valued at $76,000 after buying an additional 3,187 shares in the last quarter. Institutional investors and hedge funds own 20.82% of the company's stock.
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NASDAQ:LEGH opened at $12.82 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.19 and a current ratio of 2.14. Legacy Housing has a one year low of $12.17 and a one year high of $28.84. The business's 50-day simple moving average is $17.35 and its 200 day simple moving average is $22.19. The stock has a market cap of $310.37 million, a price-to-earnings ratio of 6.64 and a beta of 1.04.
Legacy Housing Company Profile (Get Rating)
Legacy Housing Corporation builds, sells, and finances manufactured homes and tiny houses primarily in the southern United States. The company manufactures and provides for the transport of mobile homes; and offers wholesale financing to dealers and mobile home parks, as well as a range of homes, including 1 to 5 bedrooms with 1 to 3 1/2 bathrooms.
Further ReadingGet a free copy of the StockNews.com research report on Legacy Housing (LEGH)Vuzix Stock Stays Optimistic Palo Alto Networks: Pioneering AI in CybersecurityThe Analysts Upgrade… Retail Stocks? Dividend Stocks and Your Roth IRAThe Q2 Earnings Season Could Be A Bloodbath
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