Commonwealth Equity Services LLC bought a new stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 691 shares of the construction company's stock, valued at approximately $308,000.
A number of other institutional investors have also recently added to or reduced their stakes in CVCO. Smartleaf Asset Management LLC raised its holdings in shares of Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock valued at $72,000 after purchasing an additional 128 shares in the last quarter. Blue Trust Inc. increased its position in Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after buying an additional 55 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock worth $142,000 after buying an additional 42 shares during the last quarter. KBC Group NV lifted its position in shares of Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company's stock worth $147,000 after buying an additional 86 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of Cavco Industries during the 3rd quarter worth about $208,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms recently weighed in on CVCO. StockNews.com lowered Cavco Industries from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Wedbush restated a "neutral" rating and issued a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.
View Our Latest Research Report on CVCO
Cavco Industries Stock Performance
Shares of NASDAQ:CVCO traded up $2.84 during midday trading on Friday, hitting $469.83. The company's stock had a trading volume of 70,091 shares, compared to its average volume of 63,855. The stock's 50 day simple moving average is $514.45 and its 200 day simple moving average is $479.38. 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, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08.
Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. As a group, analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.
Insider Buying and Selling
In related news, Director David A. Greenblatt sold 4,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the transaction, the director now directly owns 15,286 shares in the company, valued at $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan L. Blount sold 750 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total value of $353,775.00. Following the completion of the sale, the director now owns 2,836 shares of the company's stock, valued at $1,337,741.20. This represents a 20.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,644 shares of company stock valued at $4,494,608. 1.60% of the stock is owned by company insiders.
About Cavco Industries
(
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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