Atom Investors LP Acquires Shares of 17,682 Cavco Industries, Inc. (NASDAQ:CVCO)

Atom Investors LP acquired a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,682 shares of the construction company’s stock, valued at approximately $7,572,000. Cavco Industries makes up 0.8% of Atom Investors LP’s investment portfolio, making the stock its 22nd biggest position. Atom Investors LP owned 0.22% of Cavco Industries as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CVCO. Assenagon Asset Management S.A. boosted its holdings in shares of Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after acquiring an additional 57,278 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Cavco Industries by 91.8% in the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after acquiring an additional 22,451 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Cavco Industries by 147.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock worth $9,592,000 after acquiring an additional 13,331 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Cavco Industries in the 2nd quarter worth approximately $4,245,000. Finally, AYAL Capital Advisors Ltd boosted its holdings in shares of Cavco Industries by 61.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock worth $10,337,000 after acquiring an additional 11,361 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wedbush boosted their target price on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. Craig Hallum boosted their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares in the company, valued at approximately $433,913.40. The trade was a 7.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the sale, the director now owns 6,547 shares of the company’s stock, valued at $2,679,032.40. The trade was a 37.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,313 shares of company stock worth $1,780,681. Insiders own 1.60% of the company’s stock.

Cavco Industries Price Performance

CVCO stock opened at $514.50 on Monday. The company has a 50 day moving average price of $449.40 and a 200 day moving average price of $403.05. Cavco Industries, Inc. has a fifty-two week low of $279.50 and a fifty-two week high of $544.08. The stock has a market capitalization of $4.17 billion, a PE ratio of 29.08 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter in the previous year, the company posted $4.76 EPS. As a group, equities analysts expect that Cavco Industries, Inc. will post 18 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.