Jacobs Levy Equity Management Inc. lifted its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 7.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,572 shares of the construction company's stock after acquiring an additional 3,615 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.64% of Cavco Industries worth $22,085,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in CVCO. Blue Trust Inc. lifted its holdings in shares of Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company's stock worth $35,000 after purchasing an additional 99 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company's stock worth $44,000 after purchasing an additional 82 shares during the last quarter. Avior Wealth Management LLC bought a new stake in shares of Cavco Industries in the 3rd quarter worth approximately $64,000. GAMMA Investing LLC lifted its holdings in shares of Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock worth $118,000 after purchasing an additional 64 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Cavco Industries in the 2nd quarter worth approximately $138,000. Institutional investors and hedge funds own 95.56% of the company's stock.
Insider Buying and Selling
In other news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction 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 transaction, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. The trade was a 7.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the transaction, the director now owns 6,547 shares in the company, valued at $2,679,032.40. This represents a 37.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,313 shares of company stock worth $1,780,681 in the last three months. 1.60% of the stock is currently owned by insiders.
Cavco Industries Stock Performance
Shares of CVCO stock traded down $8.02 during mid-day trading on Thursday, hitting $498.05. 37,392 shares of the stock traded hands, compared to its average volume of 64,383. Cavco Industries, Inc. has a twelve month low of $296.05 and a twelve month high of $544.08. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 28.15 and a beta of 1.29. The company's 50-day simple moving average is $455.96 and its 200-day simple moving average is $406.41.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million for the quarter, compared to analysts' expectations of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the previous year, the firm posted $4.76 EPS. Analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current year.
Wall Street Analysts Forecast Growth
CVCO has been the topic of several recent analyst reports. StockNews.com raised Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Wedbush cut Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price target on the stock. in a research report on Tuesday. Finally, Craig Hallum lifted their price target on Cavco Industries from $422.00 to $495.00 and gave the company a "buy" rating in a research report on Monday, November 4th.
Check Out Our Latest Stock Analysis on CVCO
Cavco Industries Profile
(
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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