Squarepoint Ops LLC Invests $594,000 in Cavco Industries, Inc. (NASDAQ:CVCO)

Squarepoint Ops LLC bought a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,716 shares of the construction company’s stock, valued at approximately $594,000.

Several other hedge funds have also bought and sold shares of the stock. Blue Trust Inc. increased its holdings in shares of Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after buying an additional 99 shares during the last quarter. Mather Group LLC. bought a new stake in Cavco Industries in the first quarter worth $60,000. nVerses Capital LLC purchased a new stake in Cavco Industries during the second quarter valued at about $138,000. SG Americas Securities LLC bought a new position in shares of Cavco Industries during the first quarter valued at about $197,000. Finally, TradeLink Capital LLC purchased a new position in shares of Cavco Industries in the second quarter worth about $202,000. 95.56% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 completion of the sale, the director now owns 6,547 shares of the company’s stock, valued at $2,679,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,663 shares of company stock valued at $1,882,930. Company insiders own 1.60% of the company’s stock.

Cavco Industries Stock Down 0.0 %

Shares of CVCO opened at $422.98 on Wednesday. The firm has a fifty day simple moving average of $405.57 and a two-hundred day simple moving average of $381.43. Cavco Industries, Inc. has a twelve month low of $233.84 and a twelve month high of $444.90. The stock has a market capitalization of $3.50 billion, a P/E ratio of 23.05 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.97 by ($0.86). The business had revenue of $477.60 million during the quarter, compared to the consensus estimate of $487.80 million. Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. During the same period in the previous year, the business earned $5.29 earnings per share. Sell-side analysts expect that Cavco Industries, Inc. will post 17.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CVCO has been the subject of several analyst reports. Craig Hallum increased their target price on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a report on Monday, August 5th. Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Cavco Industries in a research report on Friday, August 2nd.

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.