Citigroup Inc. Grows Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Citigroup Inc. raised its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 61.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,228 shares of the construction company's stock after acquiring an additional 6,203 shares during the period. Citigroup Inc. owned approximately 0.20% of Cavco Industries worth $6,949,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Blue Trust Inc. raised its holdings 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 buying an additional 99 shares during the period. Farther Finance Advisors LLC lifted its stake in Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company's stock worth $44,000 after acquiring an additional 82 shares in the last quarter. Avior Wealth Management LLC purchased a new position in Cavco Industries during the 3rd quarter valued at about $64,000. GAMMA Investing LLC grew its position in Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock valued at $118,000 after acquiring an additional 64 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Cavco Industries during the second quarter worth about $138,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms have commented on CVCO. Craig Hallum boosted their price target on shares of 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 upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, Wedbush raised their target price on Cavco Industries from $425.00 to $455.00 and gave the stock an "outperform" rating in a research report on Friday, October 11th.

Cavco Industries Trading Down 0.3 %

Shares of NASDAQ:CVCO traded down $1.36 on Friday, reaching $514.50. 25,453 shares of the company were exchanged, compared to its average volume of 64,363. Cavco Industries, Inc. has a 1-year low of $279.50 and a 1-year high of $544.08. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 29.08 and a beta of 1.24. The company has a 50-day moving average of $449.40 and a 200-day moving average of $402.97.

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, beating the consensus estimate of $4.70 by $0.58. The company 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 earned $4.76 earnings per share. As a group, analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current year.

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.