Pillsbury Lake Capital LLC Buys New Shares in Cavco Industries, Inc. $CVCO

Pillsbury Lake Capital LLC purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,772 shares of the construction company’s stock, valued at approximately $11,533,141. Cavco Industries accounts for about 0.0% of Pillsbury Lake Capital LLC’s holdings, making the stock its 11th biggest holding. Pillsbury Lake Capital LLC owned 0.24% of Cavco Industries as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CVCO. Silvant Capital Management LLC purchased a new position in shares of Cavco Industries during the 2nd quarter valued at $25,000. Global Retirement Partners LLC acquired a new stake in shares of Cavco Industries in the 2nd quarter worth $28,000. Allworth Financial LP purchased a new position in shares of Cavco Industries during the 2nd quarter worth $44,000. Aster Capital Management DIFC Ltd acquired a new stake in Cavco Industries during the 4th quarter valued at approximately $46,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Cavco Industries in the fourth quarter valued at approximately $50,000. 95.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CVCO has been the topic of several analyst reports. Zelman & Associates lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a report on Friday, August 21st. Zacks Research lowered shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Finally, UBS Group began coverage on shares of Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $700.00.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 342 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total transaction of $202,464.00. Following the transaction, the chief accounting officer directly owned 736 shares of the company’s stock, valued at approximately $435,712. The trade was a 31.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Allison Aden sold 1,473 shares of Cavco Industries stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total value of $920,625.00. Following the sale, the executive vice president directly owned 9,147 shares of the company’s stock, valued at approximately $5,716,875. This trade represents a 13.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,553 shares of company stock worth $2,159,368. 1.70% of the stock is currently owned by company insiders.

Cavco Industries Price Performance

NASDAQ:CVCO traded down $1.87 on Friday, hitting $568.40. 77,605 shares of the company’s stock were exchanged, compared to its average volume of 155,024. The company has a market cap of $4.37 billion, a P/E ratio of 24.73 and a beta of 1.29. Cavco Industries, Inc. has a 52 week low of $443.33 and a 52 week high of $713.01. The firm has a 50-day moving average price of $582.80 and a 200-day moving average price of $546.65.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). The business had revenue of $609.96 million during the quarter, compared to analysts’ expectations of $590.54 million. Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%. On average, research analysts expect that Cavco Industries, Inc. will post 22.75 earnings per share for the current fiscal year.

Cavco Industries Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.