Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,006 shares of the construction company's stock after selling 570 shares during the period. Alliancebernstein L.P. owned 0.11% of Cavco Industries worth $4,019,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CVCO. Harvest Fund Management Co. Ltd acquired a new position in Cavco Industries in the 4th quarter valued at about $67,000. Smartleaf Asset Management LLC grew its position in Cavco Industries by 387.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock worth $72,000 after acquiring an additional 128 shares during the period. Blue Trust Inc. raised its position in Cavco Industries by 28.9% in the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock valued at $105,000 after purchasing an additional 55 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cavco Industries by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock valued at $142,000 after purchasing an additional 42 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Cavco Industries by 35.2% during the 4th quarter. KBC Group NV now owns 330 shares of the construction company's stock worth $147,000 after purchasing an additional 86 shares during the period. Hedge funds and other institutional investors own 95.56% of the company's stock.

Insider Activity

In other news, insider Matthew A. Nino sold 894 shares of Cavco Industries stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total value of $472,952.82. Following the completion of the sale, the insider now owns 771 shares of the company's stock, valued at $407,882.13. The trade was a 53.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Greenblatt sold 4,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total value of $2,115,520.00. Following the completion of the transaction, the director now owns 15,286 shares of the company's stock, valued at $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,894 shares of company stock valued at $4,140,833 over the last 90 days. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

CVCO has been the subject of a number of recent analyst reports. Wedbush reiterated a "neutral" rating and set a $550.00 price target (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com cut Cavco Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd.

Cavco Industries Price Performance

Shares of CVCO stock traded up $8.30 during trading on Friday, reaching $477.75. The company's stock had a trading volume of 70,524 shares, compared to its average volume of 63,833. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year high of $544.08. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 23.51 and a beta of 1.19. The stock's 50-day moving average price is $509.86 and its 200 day moving average price is $480.30.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. On average, sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.