First Sabrepoint Capital Management LP Decreases Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

First Sabrepoint Capital Management LP lessened its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 13.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,750 shares of the construction company's stock after selling 1,950 shares during the period. Cavco Industries accounts for approximately 1.6% of First Sabrepoint Capital Management LP's holdings, making the stock its 21st biggest position. First Sabrepoint Capital Management LP owned 0.16% of Cavco Industries worth $5,460,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CVCO. Thrivent Financial for Lutherans raised its stake in shares of Cavco Industries by 37.1% in the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company's stock valued at $3,274,000 after acquiring an additional 2,558 shares during the period. Quest Partners LLC purchased a new position in shares of Cavco Industries during the second quarter valued at approximately $931,000. Blue Trust Inc. grew its stake in shares of Cavco Industries by 90.0% during the third quarter. Blue Trust Inc. now owns 190 shares of the construction company's stock valued at $81,000 after buying an additional 90 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Cavco Industries by 8.5% in the third quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company's stock worth $30,614,000 after buying an additional 5,620 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Cavco Industries by 91.8% during the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company's stock worth $20,091,000 after acquiring an additional 22,451 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Insider Buying and Selling at Cavco Industries

In related news, 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 transaction of $1,636,800.00. Following the completion of the transaction, the director now owns 6,547 shares in the company, valued at $2,679,032.40. The trade was a 37.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Paul Bigbee sold 88 shares of the firm's 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. This trade represents a 7.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,438 shares of company stock valued at $1,843,595. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com raised Cavco Industries from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Craig Hallum raised 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. Finally, Wedbush lowered shares of Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price objective for the company. in a report on Tuesday, December 3rd.

Cavco Industries Stock Performance

CVCO traded down $5.05 during trading on Tuesday, hitting $498.64. 31,435 shares of the stock were exchanged, compared to its average volume of 63,968. The firm has a 50 day simple moving average of $458.84 and a 200 day simple moving average of $409.02. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 27.87 and a beta of 1.29. Cavco Industries, Inc. has a 1 year low of $301.56 and a 1 year high of $544.08.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly 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 the consensus estimate 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 EPS. As a group, equities analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

About Cavco Industries

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.