Boothbay Fund Management LLC Takes Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Boothbay Fund Management LLC acquired a new stake in Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,248 shares of the construction company’s stock, valued at approximately $257,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ergoteles LLC grew its position in shares of Cavco Industries by 16.1% in the third quarter. Ergoteles LLC now owns 2,090 shares of the construction company’s stock valued at $430,000 after purchasing an additional 290 shares during the period. Nuveen Asset Management LLC grew its position in shares of Cavco Industries by 2.5% in the third quarter. Nuveen Asset Management LLC now owns 48,306 shares of the construction company’s stock valued at $9,940,000 after purchasing an additional 1,169 shares during the period. MetLife Investment Management LLC grew its position in shares of Cavco Industries by 2.0% in the third quarter. MetLife Investment Management LLC now owns 4,826 shares of the construction company’s stock valued at $993,000 after purchasing an additional 93 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Cavco Industries by 4.5% in the third quarter. Envestnet Asset Management Inc. now owns 23,254 shares of the construction company’s stock valued at $4,785,000 after purchasing an additional 1,000 shares during the period. Finally, Credit Suisse AG grew its position in shares of Cavco Industries by 24.7% in the third quarter. Credit Suisse AG now owns 9,519 shares of the construction company’s stock valued at $1,958,000 after purchasing an additional 1,886 shares during the period. Hedge funds and other institutional investors own 93.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Craig Hallum lowered their price target on Cavco Industries from $335.00 to $290.00 in a research report on Monday, November 7th. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Wedbush boosted their price target on Cavco Industries from $385.00 to $410.00 and gave the company an “outperform” rating in a research report on Monday, February 6th.

Cavco Industries Trading Up 1.4 %

CVCO stock opened at $293.51 on Friday. The stock has a 50-day moving average price of $263.69 and a two-hundred day moving average price of $238.49. The company has a market cap of $2.55 billion, a PE ratio of 10.74 and a beta of 1.19. Cavco Industries, Inc. has a 12-month low of $179.47 and a 12-month high of $299.36.

Cavco Industries (NASDAQ:CVCO – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The construction company reported $6.66 EPS for the quarter, topping analysts’ consensus estimates of $5.85 by $0.81. The company had revenue of $500.60 million for the quarter, compared to analysts’ expectations of $540.20 million. Cavco Industries had a return on equity of 27.69% and a net margin of 11.37%. Equities analysts forecast that Cavco Industries, Inc. will post 27.36 EPS for the current fiscal year.

Cavco Industries Profile

(Get Rating)

Cavco Industries, Inc engages in the development of residential modular structures. It offers manufactured homes, modular homes, park model RVs and cabins, commercial structures, mortgage lending, and insurance. The firm’s brands include Cavco, Fleetwood, Palm Harbor and Fairmont, Friendship, Chariot Eagle and Destiny.