Caxton Associates LLP Makes New $1.24 Million Investment in Cavco Industries, Inc. $CVCO

Caxton Associates LLP bought a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,850 shares of the construction company’s stock, valued at approximately $1,238,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVCO. State Street Corp grew its position in Cavco Industries by 6.1% in the second quarter. State Street Corp now owns 380,682 shares of the construction company’s stock worth $165,380,000 after acquiring an additional 21,837 shares in the last quarter. Boston Partners raised its position in Cavco Industries by 5,371.3% during the 2nd quarter. Boston Partners now owns 201,947 shares of the construction company’s stock valued at $87,847,000 after purchasing an additional 198,256 shares in the last quarter. Broad Bay Capital Management LP lifted its stake in 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 worth $92,592,000 after acquiring an additional 27,503 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Cavco Industries by 64.0% during the first quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company’s stock valued at $80,940,000 after purchasing an additional 60,779 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in Cavco Industries by 76.9% during the 2nd quarter. Schroder Investment Management Group now owns 130,106 shares of the construction company’s stock valued at $56,522,000 after acquiring an additional 56,578 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Insider Activity at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $568.99, for a total transaction of $284,495.00. Following the transaction, the director directly owned 6,669 shares of the company’s stock, valued at approximately $3,794,594.31. The trade was a 6.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

Cavco Industries Stock Up 0.2%

Shares of Cavco Industries stock opened at $598.17 on Tuesday. The company has a 50 day moving average of $560.22 and a 200 day moving average of $505.27. The company has a market capitalization of $4.67 billion, a P/E ratio of 24.58 and a beta of 1.28. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $614.11.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, topping the consensus estimate of $6.30 by $0.25. The company had revenue of $556.53 million for the quarter, compared to analyst estimates of $542.92 million. Cavco Industries had a return on equity of 19.13% and a net margin of 9.18%. As a group, research analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Cavco Industries in a research note on Monday, December 8th. Zacks Research upgraded Cavco Industries from a “hold” rating to a “strong-buy” rating in a research note 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.com, the company presently has an average rating of “Buy” and a consensus target price of $550.00.

About Cavco Industries

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.