BNP Paribas Financial Markets Increases Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

BNP Paribas Financial Markets boosted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 25.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,809 shares of the construction company's stock after acquiring an additional 1,586 shares during the quarter. BNP Paribas Financial Markets owned about 0.10% of Cavco Industries worth $3,344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVCO. Assenagon Asset Management S.A. lifted its holdings in shares of Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company's stock worth $26,052,000 after acquiring an additional 57,278 shares during the last quarter. Cerity Partners LLC lifted its stake in Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company's stock worth $20,091,000 after purchasing an additional 22,451 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Cavco Industries by 147.0% during the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company's stock worth $9,592,000 after purchasing an additional 13,331 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Cavco Industries during the second quarter worth $4,245,000. Finally, AYAL Capital Advisors Ltd grew its stake in shares of Cavco Industries by 61.4% in the second quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company's stock valued at $10,337,000 after buying an additional 11,361 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CVCO shares. Craig Hallum increased their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. StockNews.com raised shares of Cavco Industries from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Finally, Wedbush cut shares of Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price objective for the company. in a report on Tuesday.

Cavco Industries Stock Performance

Shares of CVCO traded up $2.59 during midday trading on Friday, hitting $500.64. The company had a trading volume of 33,663 shares, compared to its average volume of 64,252. Cavco Industries, Inc. has a 1 year low of $301.56 and a 1 year high of $544.08. The firm has a market capitalization of $4.06 billion, a P/E ratio of 28.30 and a beta of 1.29. The company's 50-day simple moving average is $457.34 and its 200-day simple moving average is $407.28.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million for the quarter, compared to analyst estimates 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 prior year, the company posted $4.76 earnings per share. Equities analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Paul Bigbee sold 100 shares of the business's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the sale, the chief accounting officer now directly owns 981 shares of the company's stock, valued at $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the transaction, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. The trade was a 37.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,313 shares of company stock worth $1,780,681. 1.60% of the stock is currently owned by insiders.

Cavco Industries 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.