Gabelli Funds LLC Sells 4,540 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Gabelli Funds LLC lowered its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,160 shares of the construction company's stock after selling 4,540 shares during the period. Gabelli Funds LLC owned about 0.80% of Cavco Industries worth $29,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CVCO. FMR LLC raised its stake in Cavco Industries by 118.8% during the fourth quarter. FMR LLC now owns 296,343 shares of the construction company's stock worth $132,237,000 after acquiring an additional 160,899 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in Cavco Industries during the 4th quarter valued at about $20,382,000. Norges Bank bought a new stake in Cavco Industries during the fourth quarter worth about $17,730,000. Invesco Ltd. raised its stake in shares of Cavco Industries by 18.7% in the fourth quarter. Invesco Ltd. now owns 182,457 shares of the construction company's stock valued at $81,418,000 after acquiring an additional 28,730 shares during the last quarter. Finally, Cannell Capital LLC boosted its holdings in shares of Cavco Industries by 24.3% in the 4th quarter. Cannell Capital LLC now owns 83,958 shares of the construction company's stock worth $37,465,000 after acquiring an additional 16,407 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the transaction, the director now owns 15,286 shares of the company's stock, valued at approximately $8,084,459.68. This represents a 20.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Blount sold 2,000 shares of the firm's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $507.18, for a total value of $1,014,360.00. Following the transaction, the director now owns 2,836 shares in the company, valued at approximately $1,438,362.48. This trade represents a 41.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,894 shares of company stock valued at $4,140,833. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wedbush reissued a "neutral" rating and issued a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd.

Cavco Industries Trading Down 3.4 %

Cavco Industries stock traded down $16.01 during mid-day trading on Monday, hitting $461.74. The stock had a trading volume of 9,669 shares, compared to its average volume of 63,609. The stock has a market capitalization of $3.74 billion, a PE ratio of 22.72 and a beta of 1.19. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $544.08. The stock has a 50-day simple moving average of $508.80 and a two-hundred day simple moving average of $481.25.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. Sell-side analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal 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.