Cubist Systematic Strategies LLC lowered its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 20.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,673 shares of the construction company’s stock after selling 420 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Cavco Industries were worth $247,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in CVCO. Victory Capital Management Inc. lifted its position in shares of Cavco Industries by 17.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,517 shares of the construction company’s stock worth $197,000 after acquiring an additional 229 shares during the period. Commonwealth Equity Services Inc bought a new position in shares of Cavco Industries during the 3rd quarter worth approximately $218,000. Pinnacle Associates Ltd. bought a new position in shares of Cavco Industries during the 2nd quarter worth approximately $226,000. Piedmont Investment Advisors LLC bought a new position in shares of Cavco Industries during the 2nd quarter worth approximately $237,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Cavco Industries during the 3rd quarter worth approximately $273,000. Institutional investors own 91.77% of the company’s stock.
Cavco Industries, Inc. (NASDAQ:CVCO) opened at $161.90 on Tuesday. The company has a current ratio of 2.25, a quick ratio of 1.66 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1,430.00, a P/E ratio of 35.98 and a beta of 1.60. Cavco Industries, Inc. has a 52-week low of $93.65 and a 52-week high of $162.40.
Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Tuesday, November 7th. The construction company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.13). The company had revenue of $200.50 million for the quarter, compared to the consensus estimate of $190.87 million. Cavco Industries had a return on equity of 10.30% and a net margin of 5.09%. Cavco Industries’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 EPS.
In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $146.50, for a total value of $586,000.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at approximately $586,000. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jack Hanna sold 2,464 shares of Cavco Industries stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $147.96, for a total value of $364,573.44. Following the completion of the transaction, the director now owns 2,281 shares of the company’s stock, valued at approximately $337,496.76. The disclosure for this sale can be found here. Insiders have sold a total of 9,464 shares of company stock valued at $1,381,433 in the last 90 days. 8.44% of the stock is owned by corporate insiders.
Separately, BidaskClub upgraded Cavco Industries from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd.
Cavco Industries Company Profile
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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