1,755 Shares in Cavco Industries, Inc. $CVCO Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,755 shares of the construction company’s stock, valued at approximately $1,037,000.

A number of other large investors also recently modified their holdings of the company. Occidental Asset Management LLC acquired a new position in shares of Cavco Industries in the 4th quarter valued at about $235,000. GAMMA Investing LLC increased its position in Cavco Industries by 25.2% during the 4th quarter. GAMMA Investing LLC now owns 373 shares of the construction company’s stock worth $220,000 after purchasing an additional 75 shares in the last quarter. JPMorgan Chase & Co. increased its position in Cavco Industries by 74.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 32,057 shares of the construction company’s stock worth $18,616,000 after purchasing an additional 13,694 shares in the last quarter. AIA Group Ltd purchased a new position in Cavco Industries in the third quarter valued at approximately $691,000. Finally, Swiss Life Asset Management Ltd purchased a new position in Cavco Industries in the third quarter valued at approximately $204,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Cavco Industries news, Director David A. Greenblatt purchased 87 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average price of $500.00 per share, for a total transaction of $43,500.00. Following the completion of the purchase, the director owned 16,076 shares in the company, valued at $8,038,000. The trade was a 0.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven W. Moster purchased 300 shares of Cavco Industries stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average cost of $456.23 per share, with a total value of $136,869.00. Following the acquisition, the director directly owned 2,976 shares of the company’s stock, valued at $1,357,740.48. The trade was a 11.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 1,800 shares of company stock worth $866,592 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. Zacks Research lowered shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Finally, CJS Securities raised shares of Cavco Industries to a “strong-buy” rating in a research report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Cavco Industries currently has a consensus rating of “Hold” and a consensus target price of $550.00.

Cavco Industries Trading Up 3.9%

NASDAQ CVCO opened at $484.29 on Wednesday. The stock has a market cap of $3.76 billion, a P/E ratio of 21.04 and a beta of 1.28. The company’s fifty day simple moving average is $547.74 and its 200-day simple moving average is $568.65. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, January 29th. The construction company reported $5.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.00 by ($0.42). Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%.The firm had revenue of $580.99 million for the quarter, compared to analysts’ expectations of $593.37 million. On average, research analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

About Cavco Industries

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.