Victory Capital Management Inc. Sells 4,713 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Victory Capital Management Inc. reduced its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 56.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,610 shares of the construction company's stock after selling 4,713 shares during the period. Victory Capital Management Inc.'s holdings in Cavco Industries were worth $1,546,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its position in shares of Cavco Industries by 1,610.3% in 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. Harbor Capital Advisors Inc. raised its holdings in shares of Cavco Industries by 147.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company's stock worth $9,592,000 after acquiring an additional 13,331 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Cavco Industries during the 2nd quarter valued at approximately $4,245,000. AYAL Capital Advisors Ltd grew its holdings 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 purchasing an additional 11,361 shares in the last quarter. Finally, Natixis Advisors LLC bought a new stake in Cavco Industries in the second quarter worth $3,640,000. Hedge funds and other institutional investors own 95.56% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CVCO. StockNews.com upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Wedbush increased their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the company an "outperform" rating in a report on Friday, October 11th. Finally, Craig Hallum lifted their price target on Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a research report on Monday, November 4th.

Cavco Industries Stock Down 2.2 %

Cavco Industries stock traded down $11.94 during midday trading on Tuesday, reaching $521.23. The stock had a trading volume of 88,297 shares, compared to its average volume of 64,679. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 29.46 and a beta of 1.24. The company has a fifty day moving average of $444.55 and a 200 day moving average of $400.17. Cavco Industries, Inc. has a 52-week low of $271.48 and a 52-week high of $544.08.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted 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. The company had revenue of $507.46 million during 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 quarter in the previous year, the business earned $4.76 EPS. Equities research analysts predict that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Activity

In other news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction that occurred on Wednesday, September 11th. The shares were 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 owns 1,081 shares of the company's stock, valued at approximately $433,913.40. The trade was a 7.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven G. Bunger sold 4,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 6,547 shares of the company's stock, valued at $2,679,032.40. The trade was a 37.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,313 shares of company stock valued at $1,780,681. 1.60% of the stock is currently owned by company 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.