Inceptionr LLC Purchases Shares of 1,230 Cavco Industries, Inc. $CVCO

Inceptionr LLC purchased a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,230 shares of the construction company’s stock, valued at approximately $596,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS Group AG boosted its stake in Cavco Industries by 31.5% in the fourth quarter. UBS Group AG now owns 40,017 shares of the construction company’s stock worth $23,640,000 after buying an additional 9,589 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Cavco Industries by 599.0% in the 1st quarter. Fifth Third Bancorp now owns 2,824 shares of the construction company’s stock worth $1,367,000 after acquiring an additional 2,420 shares during the last quarter. M&T Bank Corp bought a new stake in shares of Cavco Industries in the 4th quarter worth approximately $9,501,000. Pier Capital LLC boosted its stake in shares of Cavco Industries by 90.8% in the 4th quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock valued at $7,150,000 after purchasing an additional 5,761 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Cavco Industries by 58.0% during the 4th quarter. Intech Investment Management LLC now owns 5,766 shares of the construction company’s stock valued at $3,406,000 after purchasing an additional 2,116 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Trading Up 1.4%

Shares of Cavco Industries stock opened at $569.77 on Friday. Cavco Industries, Inc. has a 12-month low of $397.38 and a 12-month high of $713.01. The company has a market cap of $4.39 billion, a P/E ratio of 23.77 and a beta of 1.28. The company’s fifty day simple moving average is $565.24 and its two-hundred day simple moving average is $553.70.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The firm had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. Analysts predict that Cavco Industries, Inc. will post 24.5 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 200 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the transaction, the chief accounting officer owned 1,105 shares in the company, valued at approximately $594,213.75. This represents a 15.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard A. Kerley sold 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total value of $294,380.00. Following the completion of the transaction, the director directly owned 6,169 shares of the company’s stock, valued at $3,632,060.44. This represents a 7.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,541 shares of company stock valued at $2,121,932. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group started coverage on Cavco Industries in a research note on Friday, June 5th. They issued a “buy” rating and a $700.00 target price for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Finally, Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Cavco Industries currently has a consensus rating of “Moderate Buy” and an average price target of $625.00.

About Cavco Industries

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.