Smartleaf Asset Management LLC Raises Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Smartleaf Asset Management LLC boosted its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 387.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 161 shares of the construction company’s stock after purchasing an additional 128 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Cavco Industries were worth $72,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after acquiring an additional 82 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in Cavco Industries in the third quarter worth about $64,000. Blue Trust Inc. increased its stake in shares of Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after purchasing an additional 55 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cavco Industries by 15.2% during the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after purchasing an additional 42 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Cavco Industries by 35.2% during the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock valued at $147,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Down 1.7 %

Shares of NASDAQ CVCO opened at $520.32 on Monday. The firm has a market cap of $4.22 billion, a P/E ratio of 25.61 and a beta of 1.34. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08. The company has a 50 day moving average of $494.56 and a 200 day moving average of $463.46.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVCO has been the topic of several recent research reports. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Wedbush restated a “neutral” rating and set a $550.00 price target (up from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd.

Insider Buying and Selling at Cavco Industries

In other news, Director Susan L. Blount sold 750 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $485.56, for a total transaction of $364,170.00. Following the completion of the sale, the director now owns 2,086 shares of the company’s stock, valued at $1,012,878.16. The trade was a 26.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jack S. Brandom sold 1,000 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $538.00, for a total value of $538,000.00. Following the completion of the transaction, the insider now directly owns 1,176 shares in the company, valued at approximately $632,688. This represents a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,394 shares of company stock worth $4,858,778. Company insiders own 1.60% of the company’s stock.

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.