Ballast Asset Management LP Has $7 Million Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Ballast Asset Management LP cut its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,677 shares of the construction company’s stock after selling 546 shares during the period. Cavco Industries makes up about 3.6% of Ballast Asset Management LP’s holdings, making the stock its 3rd biggest position. Ballast Asset Management LP owned 0.19% of Cavco Industries worth $6,996,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in Cavco Industries during the fourth quarter valued at $67,000. Smartleaf Asset Management LLC increased its holdings in shares of Cavco Industries by 387.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after purchasing an additional 128 shares during the period. Blue Trust Inc. increased its holdings in shares of Cavco Industries by 28.9% in the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after purchasing an additional 55 shares during the period. GAMMA Investing LLC lifted its position in shares of Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after purchasing an additional 42 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Cavco Industries by 35.2% during the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock worth $147,000 after purchasing an additional 86 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Wedbush restated a “neutral” rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $519.63 on Tuesday. The stock has a market capitalization of $4.21 billion, a PE ratio of 25.57 and a beta of 1.34. The stock has a 50-day simple moving average of $514.78 and a 200 day simple moving average of $475.94. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. As a group, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other news, insider Matthew A. Nino sold 894 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total transaction of $472,952.82. Following the sale, the insider now directly owns 771 shares in the company, valued at approximately $407,882.13. The trade was a 53.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David A. Greenblatt sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total value of $2,115,520.00. Following the completion of the transaction, the director now owns 15,286 shares of the company’s stock, valued at $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,644 shares of company stock valued at $4,494,608 in the last ninety days. Company insiders own 1.60% of the company’s stock.

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.