Russell Investments Group Ltd. Sells 927 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Russell Investments Group Ltd. lowered its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,722 shares of the construction company's stock after selling 927 shares during the period. Russell Investments Group Ltd. owned 0.16% of Cavco Industries worth $5,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVCO. Harvest Fund Management Co. Ltd bought a new stake in Cavco Industries during the 4th quarter worth approximately $67,000. Smartleaf Asset Management LLC raised its holdings in shares of Cavco Industries by 387.9% during the fourth 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 during the period. Blue Trust Inc. grew its stake in shares of Cavco Industries by 28.9% in the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock valued at $105,000 after buying an additional 55 shares during the period. GAMMA Investing LLC raised its stake in Cavco Industries by 15.2% during the 4th 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 period. Finally, KBC Group NV boosted its holdings in 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 acquiring an additional 86 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

Insiders Place Their Bets

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of the firm's stock in a transaction on 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 completion of the sale, the director now directly owns 2,836 shares of the company's stock, valued at $1,438,362.48. This trade represents a 41.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Matthew A. Nino sold 894 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $529.03, for a total value of $472,952.82. Following the completion of the sale, the insider now owns 771 shares in the company, valued at $407,882.13. This represents a 53.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,894 shares of company stock valued at $4,140,833. Insiders own 1.60% of the company's stock.

Cavco Industries Stock Up 1.8 %

NASDAQ:CVCO traded up $8.30 during trading hours on Friday, hitting $477.75. 70,524 shares of the company traded hands, compared to its average volume of 63,833. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08. The company has a market cap of $3.87 billion, a PE ratio of 23.51 and a beta of 1.19. The firm's 50-day simple moving average is $509.86 and its 200-day simple moving average is $480.30.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. As a group, equities research analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analysts Set New Price Targets

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

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.