Cavco Industries, Inc. $CVCO Shares Acquired by AlphaQuest LLC

AlphaQuest LLC grew its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 34.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,269 shares of the construction company’s stock after buying an additional 839 shares during the quarter. AlphaQuest LLC’s holdings in Cavco Industries were worth $1,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Cavco Industries by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company’s stock valued at $402,631,000 after buying an additional 37,249 shares during the period. Invesco Ltd. increased its stake in shares of Cavco Industries by 7.5% in the 1st quarter. Invesco Ltd. now owns 196,210 shares of the construction company’s stock valued at $101,957,000 after purchasing an additional 13,753 shares in the last quarter. GW&K Investment Management LLC increased its stake in shares of Cavco Industries by 0.8% in the 1st quarter. GW&K Investment Management LLC now owns 190,227 shares of the construction company’s stock valued at $98,848,000 after purchasing an additional 1,512 shares in the last quarter. Broad Bay Capital Management LP increased its stake in shares of Cavco Industries by 18.3% in the 1st quarter. Broad Bay Capital Management LP now owns 178,189 shares of the construction company’s stock valued at $92,592,000 after purchasing an additional 27,503 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Cavco Industries by 64.0% in the 1st quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company’s stock valued at $80,940,000 after purchasing an additional 60,779 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CVCO. Wedbush restated a “neutral” rating and issued a $550.00 price target on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen lowered Cavco Industries from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Cavco Industries in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $522.50.

Cavco Industries Price Performance

CVCO stock opened at $590.92 on Friday. The business has a 50 day simple moving average of $541.84 and a 200-day simple moving average of $486.17. The firm has a market capitalization of $4.68 billion, a PE ratio of 25.61 and a beta of 1.23. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $602.57.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.81 by $0.61. The business had revenue of $556.86 million during the quarter, compared to analyst estimates of $524.97 million. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. On average, equities research analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 300 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $530.45, for a total transaction of $159,135.00. Following the transaction, the chief accounting officer directly owned 774 shares in the company, valued at $410,568.30. This represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard A. Kerley sold 500 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total value of $240,275.00. Following the completion of the transaction, the director directly owned 7,169 shares in the company, valued at $3,445,062.95. This trade represents a 6.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,600 shares of company stock worth $2,820,884 over the last ninety days. Corporate 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.