GAMMA Investing LLC Reduces Holdings in Cavco Industries, Inc. $CVCO

GAMMA Investing LLC decreased its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 29.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309 shares of the construction company’s stock after selling 132 shares during the period. GAMMA Investing LLC’s holdings in Cavco Industries were worth $134,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Cavco Industries by 151.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock valued at $38,000 after buying an additional 53 shares during the period. CWM LLC grew its stake in shares of Cavco Industries by 44.0% in the 1st quarter. CWM LLC now owns 157 shares of the construction company’s stock valued at $82,000 after buying an additional 48 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Cavco Industries by 2,850.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company’s stock valued at $92,000 after buying an additional 171 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Cavco Industries in the 1st quarter worth approximately $112,000. Finally, DAVENPORT & Co LLC acquired a new position in shares of Cavco Industries in the 1st quarter worth approximately $208,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insiders Place Their Bets

In other news, Director Susan L. Blount sold 2,500 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $519.30, for a total value of $1,298,250.00. Following the sale, the director directly owned 3,126 shares in the company, valued at approximately $1,623,331.80. This trade represents a 44.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Paul Bigbee sold 300 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $530.45, for a total transaction of $159,135.00. Following the completion of the sale, the chief accounting officer owned 774 shares in the company, valued at $410,568.30. The trade was a 27.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock worth $2,820,884 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CVCO. Wall Street Zen lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Wedbush restated a “neutral” rating and issued a $550.00 price objective on shares of Cavco Industries in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $522.50.

Cavco Industries Stock Down 0.8%

Cavco Industries stock opened at $580.73 on Wednesday. The firm has a market cap of $4.60 billion, a PE ratio of 25.17 and a beta of 1.23. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $600.00. The company’s 50 day moving average is $504.27 and its two-hundred day moving average is $481.55.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.81 by $0.61. The company had revenue of $556.86 million for the quarter, compared to analyst estimates of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. On average, equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal 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.