Ballast Asset Management LP Reduces Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Ballast Asset Management LP cut its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,677 shares of the construction company's stock after selling 546 shares during the period. Cavco Industries accounts for approximately 3.6% of Ballast Asset Management LP's holdings, making the stock its 3rd biggest holding. Ballast Asset Management LP owned about 0.19% of Cavco Industries worth $6,996,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CVCO. Geode Capital Management LLC boosted its position in shares of Cavco Industries by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company's stock worth $101,324,000 after purchasing an additional 2,640 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Cavco Industries by 19.5% during the 4th quarter. Franklin Resources Inc. now owns 11,394 shares of the construction company's stock worth $5,084,000 after buying an additional 1,856 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Cavco Industries by 8.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 763 shares of the construction company's stock valued at $340,000 after acquiring an additional 60 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Cavco Industries by 442.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,778 shares of the construction company's stock valued at $790,000 after acquiring an additional 1,450 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Cavco Industries by 186.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 14,569 shares of the construction company's stock valued at $6,501,000 after acquiring an additional 9,478 shares during the period. Institutional investors own 95.56% of the company's stock.

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Insider Buying and Selling

In other news, Director David A. Greenblatt sold 4,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the transaction, the director now directly owns 15,286 shares of the company's stock, valued at $8,084,459.68. This represents a 20.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total value of $353,775.00. Following the transaction, the director now owns 2,836 shares of the company's stock, valued at approximately $1,337,741.20. The trade was a 20.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,644 shares of company stock worth $4,494,608 over the last ninety days. Company insiders own 1.60% of the company's stock.

Cavco Industries Trading Up 0.5 %

Shares of NASDAQ CVCO traded up $2.61 during mid-day trading on Friday, reaching $488.94. 88,698 shares of the company's stock were exchanged, compared to its average volume of 63,278. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 24.06 and a beta of 1.34. The business has a fifty day simple moving average of $517.10 and a 200 day simple moving average of $477.73.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. Equities research analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVCO has been the subject of a number of analyst reports. StockNews.com cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Wednesday. Wedbush reissued a "neutral" rating and issued a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd.

Cavco Industries Company Profile

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.