Gabelli Funds LLC Sells 4,540 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Gabelli Funds LLC reduced its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,160 shares of the construction company’s stock after selling 4,540 shares during the quarter. Gabelli Funds LLC’s holdings in Cavco Industries were worth $29,076,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CVCO. HighTower Advisors LLC increased its holdings in shares of Cavco Industries by 5.1% in the 3rd quarter. HighTower Advisors LLC now owns 1,518 shares of the construction company’s stock valued at $649,000 after acquiring an additional 73 shares during the period. Barclays PLC grew its stake in Cavco Industries by 162.0% in the third quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after purchasing an additional 10,656 shares during the last quarter. Geode Capital Management LLC raised its holdings in Cavco Industries by 6.1% in the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after purchasing an additional 12,822 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of Cavco Industries in the 3rd quarter valued at about $213,000. Finally, Virtu Financial LLC bought a new position in shares of Cavco Industries during the 3rd quarter worth approximately $637,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cavco Industries

In other news, Director David A. Greenblatt sold 4,000 shares of Cavco Industries stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the sale, the director now directly owns 15,286 shares of the company’s stock, valued at $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan L. Blount sold 2,000 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $507.18, for a total value of $1,014,360.00. Following the completion of the transaction, the director now directly owns 2,836 shares of the company’s stock, valued at approximately $1,438,362.48. This represents a 41.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,894 shares of company stock worth $4,140,833. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Stock Up 0.0 %

Shares of NASDAQ:CVCO opened at $475.55 on Wednesday. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 23.40 and a beta of 1.19. The business has a 50-day moving average price of $512.05 and a 200-day moving average price of $480.03.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 EPS for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. As a group, equities analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Analysts Set New Price Targets

CVCO has been the subject of a number of recent analyst reports. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Wedbush reaffirmed a “neutral” rating and issued a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 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.