Cannell Capital LLC lifted its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 24.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,958 shares of the construction company's stock after acquiring an additional 16,407 shares during the period. Cavco Industries makes up 7.7% of Cannell Capital LLC's portfolio, making the stock its biggest position. Cannell Capital LLC owned about 1.04% of Cavco Industries worth $37,465,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Harvest Fund Management Co. Ltd acquired a new stake in Cavco Industries in the 4th quarter valued at $67,000. Smartleaf Asset Management LLC boosted its position in shares of 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 buying an additional 128 shares during the period. Blue Trust Inc. grew its stake in shares of 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 buying an additional 55 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cavco Industries by 15.2% during the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock valued at $142,000 after buying an additional 42 shares during the period. Finally, KBC Group NV lifted its position in 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 acquiring an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.
Wall Street Analysts Forecast Growth
CVCO has been the subject of several recent research reports. StockNews.com downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Wedbush reaffirmed a "neutral" rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.
View Our Latest Research Report on Cavco Industries
Insider Transactions at Cavco Industries
In other Cavco Industries news, insider Matthew A. Nino sold 894 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $529.03, for a total transaction of $472,952.82. Following the sale, the insider now directly owns 771 shares of the company's stock, valued at approximately $407,882.13. This represents 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 Susan L. Blount sold 750 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total transaction of $353,775.00. Following the completion of the transaction, the director now owns 2,836 shares in the company, 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. Over the last 90 days, insiders have sold 8,644 shares of company stock valued at $4,494,608. Insiders own 1.60% of the company's stock.
Cavco Industries Trading Up 0.6 %
CVCO stock traded up $2.84 during midday trading on Friday, hitting $469.83. 70,091 shares of the company's stock were exchanged, compared to its average volume of 63,995. The firm has a 50 day moving average price of $514.45 and a 200-day moving average price of $479.75. Cavco Industries, Inc. has a 12-month low of $331.08 and a 12-month high of $544.08. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 23.12 and a beta of 1.19.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results 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 net margin of 8.75% and a return on equity of 16.17%. On average, sell-side analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.
Cavco Industries Company Profile
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Free Report)
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.
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