Assenagon Asset Management S.A. Purchases 57,278 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Assenagon Asset Management S.A. grew its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 1,610.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,835 shares of the construction company’s stock after buying an additional 57,278 shares during the period. Assenagon Asset Management S.A.’s holdings in Cavco Industries were worth $26,052,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors increased its position in shares of Cavco Industries by 2.9% during the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after acquiring an additional 17,125 shares during the period. Edgestream Partners L.P. purchased a new position in Cavco Industries in the second quarter worth $4,245,000. AYAL Capital Advisors Ltd raised its position in shares of Cavco Industries by 61.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock valued at $10,337,000 after purchasing an additional 11,361 shares during the last quarter. Natixis Advisors LLC acquired a new stake in Cavco Industries in the 2nd quarter worth approximately $3,640,000. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Cavco Industries by 507.8% during the second quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company’s stock valued at $3,139,000 after buying an additional 7,576 shares during the last quarter. 95.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Cavco Industries

In related news, SVP Steven K. Like sold 575 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total value of $210,806.50. Following the completion of the transaction, the senior vice president now directly owns 1,255 shares of the company’s stock, valued at $460,108.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cavco Industries news, SVP Steven K. Like sold 575 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now directly owns 1,255 shares of the company’s stock, valued at approximately $460,108.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction on Thursday, September 12th. The shares were 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 owns 6,547 shares in the company, valued at approximately $2,679,032.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,663 shares of company stock worth $1,882,930 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $413.03 on Friday. The stock has a 50 day moving average price of $418.52 and a 200 day moving average price of $385.33. Cavco Industries, Inc. has a one year low of $233.84 and a one year high of $452.42. The stock has a market cap of $3.42 billion, a PE ratio of 22.51 and a beta of 1.24.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVCO shares. Wedbush upped their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Craig Hallum raised their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

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.