Proficio Capital Partners LLC Makes New $5.38 Million Investment in Cavco Industries, Inc. (NASDAQ:CVCO)

Proficio Capital Partners LLC acquired a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,048 shares of the construction company’s stock, valued at approximately $5,376,000. Proficio Capital Partners LLC owned 0.15% of Cavco Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Victory Capital Management Inc. grew its stake in Cavco Industries by 103.7% during the 4th quarter. Victory Capital Management Inc. now owns 7,355 shares of the construction company’s stock valued at $3,282,000 after acquiring an additional 3,745 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Cavco Industries by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,977 shares of the construction company’s stock valued at $49,521,000 after acquiring an additional 1,524 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after acquiring an additional 128 shares in the last quarter. Fisher Asset Management LLC grew its stake in Cavco Industries by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 73,511 shares of the construction company’s stock valued at $32,803,000 after acquiring an additional 2,024 shares in the last quarter. Finally, GW&K Investment Management LLC grew its stake in Cavco Industries by 1.0% during the 4th quarter. GW&K Investment Management LLC now owns 188,715 shares of the construction company’s stock valued at $84,210,000 after acquiring an additional 1,931 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Wedbush reaffirmed a “neutral” rating and set a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd.

Insider Activity at Cavco Industries

In other news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the sale, the director now owns 15,286 shares in the company, valued at approximately $8,084,459.68. This represents a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total value of $353,775.00. Following the sale, the director now owns 2,836 shares in the company, valued at $1,337,741.20. The trade was a 20.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,644 shares of company stock worth $4,494,608. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Stock Up 3.1 %

Shares of Cavco Industries stock opened at $506.83 on Monday. The stock has a market capitalization of $4.11 billion, a P/E ratio of 24.94 and a beta of 1.34. The stock has a 50 day moving average price of $500.43 and a two-hundred day moving average price of $467.06. Cavco Industries, Inc. has a 12-month low of $331.08 and a 12-month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, topping analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. Sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

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.