Walleye Capital LLC Acquires Shares of 2,062 Cavco Industries, Inc. (NASDAQ:CVCO)

Walleye Capital LLC purchased a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,062 shares of the construction company's stock, valued at approximately $883,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Trust Walden Corp lifted its stake in Cavco Industries by 0.8% in the 2nd quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company's stock worth $67,865,000 after purchasing an additional 1,541 shares in the last quarter. FMR LLC increased its holdings in shares of Cavco Industries by 7.0% in the third quarter. FMR LLC now owns 135,444 shares of the construction company's stock worth $58,002,000 after purchasing an additional 8,829 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Cavco Industries by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company's stock worth $46,872,000 after buying an additional 5,935 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Cavco Industries by 8.5% during the third quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company's stock valued at $30,614,000 after buying an additional 5,620 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Cavco Industries by 1,610.3% during the third 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 in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Stock Up 0.5 %

Shares of NASDAQ CVCO traded up $2.59 during trading hours on Friday, reaching $500.64. 33,663 shares of the stock traded hands, compared to its average volume of 60,139. The company's 50-day simple moving average is $457.34 and its two-hundred day simple moving average is $407.59. The company has a market capitalization of $4.06 billion, a P/E ratio of 28.30 and a beta of 1.29. Cavco Industries, Inc. has a 52-week low of $301.56 and a 52-week 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 EPS for the quarter, topping the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same period last year, the firm posted $4.76 earnings per share. As a group, sell-side analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CVCO has been the topic of several recent analyst reports. Wedbush cut Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price target on the stock. in a report on Tuesday. Craig Hallum boosted 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, StockNews.com upgraded shares of Cavco Industries from a "hold" rating to a "buy" rating in a research report on Monday, November 4th.

Insider Buying and Selling

In related news, CAO Paul Bigbee sold 100 shares of Cavco Industries stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the transaction, the chief accounting officer now directly owns 981 shares of the company's stock, valued at $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The stock was 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 directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. The trade was a 37.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,313 shares of company stock worth $1,780,681 in the last ninety days. 1.60% of the stock is owned by insiders.

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.