Jane Street Group LLC Has $1.80 Million Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Jane Street Group LLC cut its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 70.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,203 shares of the construction company’s stock after selling 10,263 shares during the quarter. Jane Street Group LLC owned 0.05% of Cavco Industries worth $1,800,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in Cavco Industries during the 3rd quarter worth approximately $410,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Cavco Industries by 7.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 51,572 shares of the construction company’s stock valued at $22,085,000 after acquiring an additional 3,615 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Cavco Industries by 5.1% during the third quarter. HighTower Advisors LLC now owns 1,518 shares of the construction company’s stock worth $649,000 after purchasing an additional 73 shares during the period. Holocene Advisors LP grew its stake in shares of Cavco Industries by 24.1% in the third quarter. Holocene Advisors LP now owns 7,603 shares of the construction company’s stock worth $3,256,000 after purchasing an additional 1,476 shares during the last quarter. Finally, Atom Investors LP acquired a new stake in Cavco Industries in the third quarter valued at $7,572,000. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Trading Up 1.2 %

CVCO stock opened at $450.62 on Thursday. The firm has a market cap of $3.65 billion, a PE ratio of 25.47 and a beta of 1.29. The stock has a 50-day moving average price of $468.24 and a 200-day moving average price of $418.40. Cavco Industries, Inc. has a 1-year low of $304.10 and a 1-year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly 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 firm had revenue of $507.46 million for 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 business earned $4.76 EPS. On average, analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Insiders Place Their Bets

In other Cavco Industries news, Director Susan L. Blount sold 750 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the sale, the director now owns 2,086 shares of the company’s stock, valued at approximately $1,012,878.16. This trade represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Paul Bigbee sold 100 shares of the company’s stock in a transaction that occurred 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 directly owns 981 shares in the company, valued at $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,100 shares of company stock worth $535,642. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CVCO has been the topic of a number of analyst reports. Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a research report on Tuesday, December 3rd. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Finally, Craig Hallum increased their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Company 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.