Wellington Management Group LLP Reduces Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Wellington Management Group LLP decreased its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 47.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,431 shares of the construction company's stock after selling 119,592 shares during the quarter. Wellington Management Group LLP owned 1.63% of Cavco Industries worth $59,095,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new stake in Cavco Industries in the fourth quarter valued at approximately $67,000. Smartleaf Asset Management LLC increased its position 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 worth $72,000 after acquiring an additional 128 shares during the period. Blue Trust Inc. increased its position in shares of Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after acquiring an additional 55 shares during the period. GAMMA Investing LLC increased its position in shares of Cavco Industries by 15.2% during the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock worth $142,000 after acquiring an additional 42 shares during the period. Finally, KBC Group NV increased its position in shares of Cavco Industries by 35.2% during 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 during the period. Hedge funds and other institutional investors own 95.56% of the company's stock.

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Analyst Ratings Changes

CVCO has been the topic of a number of recent research reports. Wedbush reaffirmed a "neutral" rating and set a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com lowered Cavco Industries from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd.

Insider Transactions at Cavco Industries

In related news, Director Susan L. Blount sold 750 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total transaction of $353,775.00. Following the completion of the transaction, the director now directly owns 2,836 shares of the company's stock, valued at $1,337,741.20. This represents a 20.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Matthew A. Nino sold 894 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total transaction of $472,952.82. Following the transaction, the insider now directly owns 771 shares of the company's stock, 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 sold 8,644 shares of company stock worth $4,494,608. Company insiders own 1.60% of the company's stock.

Cavco Industries Trading Down 4.5 %

Shares of CVCO traded down $21.80 during mid-day trading on Thursday, hitting $467.07. 7,887 shares of the company's stock were exchanged, compared to its average volume of 63,521. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $544.08. The firm has a market capitalization of $3.79 billion, a P/E ratio of 23.04 and a beta of 1.19. The business's 50 day moving average is $516.42 and its two-hundred day moving average is $478.78.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share 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 16.17%. On average, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current 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.