17,682 Shares in Cavco Industries, Inc. (NASDAQ:CVCO) Purchased by Atom Investors LP

Atom Investors LP purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,682 shares of the construction company's stock, valued at approximately $7,572,000. Cavco Industries comprises approximately 0.8% of Atom Investors LP's investment portfolio, making the stock its 22nd largest position. Atom Investors LP owned approximately 0.22% of Cavco Industries as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Janus Henderson Group PLC raised its position in Cavco Industries by 3.1% in the first quarter. Janus Henderson Group PLC now owns 6,302 shares of the construction company's stock valued at $2,514,000 after purchasing an additional 190 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Cavco Industries by 507.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company's stock worth $3,139,000 after acquiring an additional 7,576 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in Cavco Industries during the 2nd quarter valued at about $208,000. Hunter Perkins Capital Management LLC boosted its holdings in Cavco Industries by 28.4% during the 2nd quarter. Hunter Perkins Capital Management LLC now owns 2,535 shares of the construction company's stock valued at $878,000 after acquiring an additional 560 shares during the period. Finally, Blue Trust Inc. grew its position in Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company's stock valued at $35,000 after acquiring an additional 99 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. StockNews.com raised shares of Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Wedbush upped their price objective on Cavco Industries from $425.00 to $455.00 and gave the stock an "outperform" rating in a research report on Friday, October 11th. Finally, Craig Hallum boosted their price objective on Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a research report on Monday, November 4th.

Cavco Industries Price Performance

Shares of CVCO traded up $4.93 during midday trading on Monday, reaching $519.43. The stock had a trading volume of 38,978 shares, compared to its average volume of 64,354. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 29.07 and a beta of 1.24. The company's fifty day simple moving average is $449.40 and its two-hundred day simple moving average is $403.05. Cavco Industries, Inc. has a 1-year low of $288.57 and a 1-year high of $544.08.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million during the quarter, compared to analysts' expectations of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same quarter in the previous year, the business earned $4.76 earnings per share. On average, sell-side analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Insider Activity

In other Cavco Industries news, Director Julia Sze sold 125 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the sale, the director now owns 2,861 shares in the company, valued at approximately $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the sale, the chief accounting officer now directly owns 1,081 shares of the company's stock, valued at $433,913.40. The trade was a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,313 shares of company stock worth $1,780,681. Corporate insiders own 1.60% of the company's stock.

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.