AlphaQuest LLC Raises Holdings in Cavco Industries, Inc. $CVCO

AlphaQuest LLC grew its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 34.5% during the 2nd quarter, HoldingsChannel.com reports. 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 filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Moloney Securities Asset Management LLC grew its holdings in shares of Cavco Industries by 53.5% during the second quarter. Moloney Securities Asset Management LLC now owns 795 shares of the construction company’s stock worth $345,000 after purchasing an additional 277 shares during the last quarter. R Squared Ltd purchased a new position in shares of Cavco Industries during the second quarter worth about $500,000. Huntleigh Advisors Inc. grew its holdings in shares of Cavco Industries by 5.5% during the second quarter. Huntleigh Advisors Inc. now owns 1,548 shares of the construction company’s stock worth $672,000 after purchasing an additional 81 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Cavco Industries by 10.9% during the second quarter. Allianz Asset Management GmbH now owns 16,306 shares of the construction company’s stock worth $7,084,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Moran Wealth Management LLC grew its holdings in shares of Cavco Industries by 3.2% during the second quarter. Moran Wealth Management LLC now owns 1,475 shares of the construction company’s stock worth $641,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analyst Ratings Changes

CVCO has been the topic of several recent research reports. Wedbush restated a “neutral” rating and issued a $550.00 price target on shares of Cavco Industries in a research report on Monday, August 4th. Wall Street Zen lowered Cavco Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Cavco Industries in a report 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 company. According to data from MarketBeat.com, Cavco Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $522.50.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $590.92 on Friday. The business’s 50 day simple moving average is $541.84 and its 200-day simple moving average is $486.17. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 25.61 and a beta of 1.23. Cavco Industries, Inc. has a 12 month low of $393.53 and a 12 month high of $602.57.

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

Insider Buying and Selling

In other Cavco Industries news, Director Susan L. Blount sold 2,500 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total value of $1,298,250.00. Following the completion of the transaction, the director directly owned 3,126 shares in the company, valued at approximately $1,623,331.80. The trade was a 44.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard A. Kerley sold 500 shares of the business’s 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 owned 7,169 shares of the company’s stock, valued at $3,445,062.95. This trade represents a 6.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,600 shares of company stock worth $2,820,884 in the last ninety days. Insiders own 1.60% of the company’s stock.

About Cavco Industries

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.