Marshall Wace LLP Acquires New Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Marshall Wace LLP bought a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,999 shares of the construction company’s stock, valued at approximately $692,000.

A number of other institutional investors have also made changes to their positions in CVCO. Capital World Investors increased its holdings in Cavco Industries by 2.9% in the 1st quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock valued at $241,800,000 after purchasing an additional 17,125 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Cavco Industries in the second quarter valued at $4,245,000. Confluence Investment Management LLC purchased a new stake in shares of Cavco Industries in the 1st quarter valued at $4,679,000. Natixis Advisors LLC acquired a new position in Cavco Industries during the 2nd quarter worth about $3,640,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Cavco Industries by 507.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company’s stock valued at $3,139,000 after acquiring an additional 7,576 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Price Performance

CVCO stock opened at $422.98 on Wednesday. The business’s 50-day moving average is $405.57 and its two-hundred day moving average is $381.43. The firm has a market capitalization of $3.50 billion, a P/E ratio of 23.05 and a beta of 1.24. Cavco Industries, Inc. has a 1 year low of $233.84 and a 1 year high of $444.90.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The firm had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $487.80 million. During the same quarter in the prior year, the firm earned $5.29 EPS. On average, analysts expect that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on CVCO shares. Wedbush reissued an “outperform” rating and set a $425.00 price target on shares of Cavco Industries in a research report on Friday, August 2nd. Craig Hallum increased their target price on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a report on Monday, August 5th.

Insider Transactions at Cavco Industries

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares in the company, valued at $2,679,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at $433,913.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,663 shares of company stock valued at $1,882,930. 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.