AXQ Capital LP Purchases New Shares in Cavco Industries, Inc. $CVCO

AXQ Capital LP purchased a new position in Cavco Industries, Inc. (NASDAQ:CVCO) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 946 shares of the construction company’s stock, valued at approximately $411,000.

A number of other hedge funds also recently bought and sold shares of the company. Boston Partners increased its position in shares of Cavco Industries by 5,371.3% in the second quarter. Boston Partners now owns 201,947 shares of the construction company’s stock worth $87,847,000 after acquiring an additional 198,256 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Cavco Industries by 64.0% in the 1st quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company’s stock worth $80,940,000 after purchasing an additional 60,779 shares during the period. Vanguard Group Inc. grew its position in Cavco Industries by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company’s stock worth $402,631,000 after purchasing an additional 37,249 shares in the last quarter. Millennium Management LLC raised its stake in Cavco Industries by 628.4% during the 1st quarter. Millennium Management LLC now owns 39,721 shares of the construction company’s stock valued at $20,640,000 after purchasing an additional 34,268 shares during the period. Finally, Broad Bay Capital Management LP lifted its holdings in shares of Cavco Industries by 18.3% in the first quarter. Broad Bay Capital Management LP now owns 178,189 shares of the construction company’s stock valued at $92,592,000 after purchasing an additional 27,503 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on CVCO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cavco Industries in a research report on Monday, November 17th. Wedbush restated a “neutral” rating and set a $550.00 price objective on shares of Cavco Industries in a research report on Monday, August 4th. Finally, Zacks Research upgraded Cavco Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $550.00.

Cavco Industries Trading Up 5.4%

Shares of NASDAQ:CVCO opened at $573.39 on Monday. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 24.85 and a beta of 1.21. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $602.57. The business has a fifty day simple moving average of $552.10 and a 200 day simple moving average of $495.30.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $6.30 by $0.25. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%.The firm had revenue of $556.53 million for the quarter, compared to the consensus estimate of $542.92 million. On average, sell-side analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Activity at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $568.99, for a total value of $284,495.00. Following the transaction, the director owned 6,669 shares in the company, valued at approximately $3,794,594.31. This represents a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Paul Bigbee sold 300 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 774 shares in the company, valued at approximately $410,568.30. The trade was a 27.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.

Cavco Industries Company 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.