MML Investors Services LLC Sells 119 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

MML Investors Services LLC cut its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 11.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 914 shares of the construction company’s stock after selling 119 shares during the period. MML Investors Services LLC’s holdings in Cavco Industries were worth $391,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its position in Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after buying an additional 57,278 shares during the period. Cerity Partners LLC grew its stake in shares of Cavco Industries by 91.8% in the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after acquiring an additional 22,451 shares during the last quarter. Atom Investors LP bought a new position in Cavco Industries during the third quarter worth $7,572,000. Harbor Capital Advisors Inc. raised its stake in Cavco Industries by 147.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after purchasing an additional 13,331 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new stake in Cavco Industries in the 2nd quarter valued at $4,245,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 100 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following the transaction, the chief accounting officer now owns 981 shares of the company’s stock, valued at approximately $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julia Sze sold 125 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the sale, the director now owns 2,861 shares in the company, valued at $1,312,283.48. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,100 shares of company stock worth $535,642 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Stock Down 2.2 %

NASDAQ CVCO opened at $445.28 on Tuesday. The stock has a market cap of $3.61 billion, a P/E ratio of 25.17 and a beta of 1.29. Cavco Industries, Inc. has a twelve month low of $304.10 and a twelve month high of $544.08. The company’s 50-day simple moving average is $468.01 and its 200 day simple moving average is $417.64.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the prior year, the firm posted $4.76 EPS. Research analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday. Craig Hallum raised their price objective on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a report on Tuesday, December 3rd.

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.