Rafferty Asset Management LLC Grows Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Rafferty Asset Management LLC raised its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 49.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,483 shares of the construction company’s stock after buying an additional 1,802 shares during the quarter. Rafferty Asset Management LLC owned about 0.07% of Cavco Industries worth $2,447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CVCO. FMR LLC boosted its holdings in shares of Cavco Industries by 118.8% in the 4th quarter. FMR LLC now owns 296,343 shares of the construction company’s stock worth $132,237,000 after purchasing an additional 160,899 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Cavco Industries by 1,030.9% in the 4th quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company’s stock worth $32,371,000 after purchasing an additional 66,120 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of Cavco Industries in the 4th quarter worth approximately $20,382,000. Norges Bank purchased a new position in shares of Cavco Industries in the 4th quarter worth approximately $17,730,000. Finally, Invesco Ltd. boosted its holdings in shares of Cavco Industries by 18.7% in the 4th quarter. Invesco Ltd. now owns 182,457 shares of the construction company’s stock worth $81,418,000 after purchasing an additional 28,730 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Performance

Shares of CVCO stock opened at $517.88 on Tuesday. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $549.99. The firm has a market capitalization of $4.20 billion, a P/E ratio of 25.49 and a beta of 1.29. The stock has a 50 day moving average price of $500.86 and a 200 day moving average price of $493.14.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wedbush reiterated a “neutral” rating and issued a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a report on Thursday, May 15th.

Insider Buying and Selling

In related news, Director David A. Greenblatt sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the sale, the director now directly owns 15,286 shares of the company’s stock, valued at approximately $8,084,459.68. This trade represents a 20.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by corporate insiders.

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.