Bridgewater Associates LP Has $334,000 Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Bridgewater Associates LP cut its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 86.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 779 shares of the construction company's stock after selling 4,852 shares during the quarter. Bridgewater Associates LP's holdings in Cavco Industries were worth $334,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CVCO. Assenagon Asset Management S.A. grew its holdings in shares of Cavco Industries by 1,610.3% during the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company's stock worth $26,052,000 after buying an additional 57,278 shares in the last quarter. Cerity Partners LLC grew its stake in Cavco Industries by 91.8% in the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company's stock valued at $20,091,000 after purchasing an additional 22,451 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Cavco Industries by 147.0% in the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company's stock valued at $9,592,000 after purchasing an additional 13,331 shares in the last quarter. Edgestream Partners L.P. bought a new position in Cavco Industries in the second quarter valued at approximately $4,245,000. Finally, AYAL Capital Advisors Ltd grew its stake in 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 purchasing an additional 11,361 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com upgraded Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Wedbush downgraded Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price target for the company. in a research note on Tuesday. Finally, Craig Hallum raised their price target on Cavco Industries from $422.00 to $495.00 and gave the company a "buy" rating in a research note on Monday, November 4th.

Cavco Industries Trading Down 1.4 %

Shares of CVCO traded down $7.35 during mid-day trading on Wednesday, reaching $504.38. The company's stock had a trading volume of 29,862 shares, compared to its average volume of 64,249. Cavco Industries, Inc. has a 1-year low of $292.81 and a 1-year high of $544.08. The stock has a market cap of $4.09 billion, a P/E ratio of 28.55 and a beta of 1.29. The business has a 50-day simple moving average of $452.84 and a two-hundred day simple moving average of $405.06.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The company had revenue of $507.46 million during the quarter, compared to analysts' expectations of $480.10 million. During the same period last year, the firm posted $4.76 earnings per share. Research analysts anticipate that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Activity

In related news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction 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 approximately $433,913.40. This trade represents a 7.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction that occurred on 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 sale, the director now directly owns 6,547 shares of the company's stock, valued at approximately $2,679,032.40. The trade was a 37.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,313 shares of company stock valued at $1,780,681 over the last three months. Insiders own 1.60% of the company's stock.

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.