Kingswood Wealth Advisors LLC Makes New Investment in Cavco Industries, Inc. (NASDAQ:CVCO)

Kingswood Wealth Advisors LLC bought a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 570 shares of the construction company's stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CVCO. Assenagon Asset Management S.A. raised its position in Cavco Industries by 1,610.3% during the 3rd 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 during the last quarter. Cerity Partners LLC grew its stake in Cavco Industries by 91.8% in the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company's stock valued at $20,091,000 after acquiring an additional 22,451 shares during the period. Atom Investors LP purchased a new stake in shares of Cavco Industries during the third quarter worth about $7,572,000. Harbor Capital Advisors Inc. raised its holdings in shares of Cavco Industries by 147.0% during the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company's stock valued at $9,592,000 after acquiring an additional 13,331 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company's stock worth $96,107,000 after buying an additional 12,822 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Price Performance

NASDAQ:CVCO traded up $17.98 during trading hours on Wednesday, reaching $533.84. 74,563 shares of the company traded hands, compared to its average volume of 62,377. The stock has a market cap of $4.33 billion, a P/E ratio of 26.27 and a beta of 1.35. The firm's 50-day moving average is $473.32 and its 200-day moving average is $440.76. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year high of $544.08.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.25%. As a group, research analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $503.31, for a total value of $62,913.75. Following the transaction, the director now owns 2,736 shares of the company's stock, valued at approximately $1,377,056.16. This trade represents a 4.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Paul Bigbee sold 100 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the sale, the chief accounting officer now directly owns 981 shares of the company's stock, valued at approximately $502,497.63. This represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,850 shares of company stock valued at $889,417 in the last ninety days. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CVCO shares. StockNews.com raised Cavco Industries from a "hold" rating to a "buy" rating in a research note on Monday. Craig Hallum lifted their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, Wedbush restated 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.

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.