Militia Capital Management LLC purchased a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO – Free Report) during the 1st quarter, HoldingsChannel reports. The firm purchased 3,740 shares of the construction company’s stock, valued at approximately $1,811,000.
Several other large investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Cavco Industries in the fourth quarter valued at about $46,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Cavco Industries during the fourth quarter worth about $50,000. Los Angeles Capital Management LLC purchased a new stake in Cavco Industries in the fourth quarter valued at approximately $54,000. Danske Bank A S purchased a new stake in Cavco Industries in the third quarter valued at approximately $58,000. Finally, CIBC Private Wealth Group LLC boosted its position in Cavco Industries by 72.5% in the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock valued at $69,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.
Wall Street Analysts Forecast Growth
CVCO has been the subject of a number of recent research reports. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. UBS Group began coverage on shares of Cavco Industries in a research note on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. One 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 stock. According to MarketBeat.com, Cavco Industries currently has an average rating of “Moderate Buy” and an average price target of $625.00.
Insiders Place Their Bets
In other news, EVP Allison Aden sold 1,473 shares of Cavco Industries stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the transaction, the executive vice president directly owned 9,147 shares of the company’s stock, valued at $5,716,875. The trade was a 13.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard A. Kerley sold 500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total transaction of $294,380.00. Following the completion of the transaction, the director owned 6,169 shares of the company’s stock, valued at approximately $3,632,060.44. This represents a 7.50% 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 3,541 shares of company stock worth $2,121,932. Corporate insiders own 1.70% of the company’s stock.
Cavco Industries Stock Down 0.7%
Shares of CVCO stock opened at $570.05 on Thursday. Cavco Industries, Inc. has a 52-week low of $397.38 and a 52-week high of $713.01. The stock has a market cap of $4.40 billion, a PE ratio of 23.78 and a beta of 1.28. The business has a 50-day simple moving average of $561.25 and a 200-day simple moving average of $553.79.
Cavco Industries (NASDAQ:CVCO – Get Free Report) last posted its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, topping the consensus estimate of $5.30 by $0.12. The firm had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. Sell-side analysts anticipate that Cavco Industries, Inc. will post 24.5 earnings per share for the current fiscal year.
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.
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