GSA Capital Partners LLP Purchases Shares of 3,047 Cavco Industries, Inc. $CVCO

GSA Capital Partners LLP acquired a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,047 shares of the construction company’s stock, valued at approximately $1,872,000.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Cavco Industries in the 4th quarter worth approximately $46,000. Kemnay Advisory Services Inc. bought a new stake in Cavco Industries during the fourth quarter worth approximately $50,000. Los Angeles Capital Management LLC bought a new stake in Cavco Industries during the fourth quarter worth approximately $54,000. Osaic Holdings Inc. boosted its holdings in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after buying an additional 65 shares in the last quarter. Finally, Danske Bank A S acquired a new position in Cavco Industries in the third quarter worth approximately $58,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Stock Performance

Cavco Industries stock opened at $605.05 on Monday. Cavco Industries, Inc. has a 52 week low of $443.33 and a 52 week high of $713.01. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 26.33 and a beta of 1.29. The company has a 50 day moving average price of $583.18 and a 200 day moving average price of $543.91.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). The business had revenue of $609.96 million during the quarter, compared to analysts’ expectations of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. Equities analysts forecast that Cavco Industries, Inc. will post 22.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on CVCO. UBS Group began coverage on Cavco Industries in a report on Friday, June 5th. They issued a “buy” rating and a $700.00 price target on the stock. Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Finally, Zelman & Associates lowered Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cavco Industries presently has a consensus rating of “Hold” and an average target price of $700.00.

Insider Buying and Selling

In related news, CAO Paul Bigbee sold 200 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the completion of the sale, the chief accounting officer directly owned 1,105 shares of the company’s stock, valued at approximately $594,213.75. This represents a 15.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total value of $294,380.00. Following the sale, the director owned 6,169 shares of the company’s stock, valued at $3,632,060.44. The trade was a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 3,442 shares of company stock valued at $2,080,238. Corporate insiders own 1.70% of the company’s stock.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.