Osterweis Capital Management Inc. Purchases 2,515 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Osterweis Capital Management Inc. boosted its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 38,501 shares of the construction company’s stock after buying an additional 2,515 shares during the quarter. Osterweis Capital Management Inc.’s holdings in Cavco Industries were worth $17,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVCO. FMR LLC lifted its holdings in Cavco Industries by 118.8% in the fourth quarter. FMR LLC now owns 296,343 shares of the construction company’s stock valued at $132,237,000 after buying an additional 160,899 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Cavco Industries during the 4th quarter valued at $20,382,000. Norges Bank acquired a new position in shares of Cavco Industries in the 4th quarter valued at $17,730,000. Invesco Ltd. boosted its position in shares of Cavco Industries by 18.7% in the 4th quarter. Invesco Ltd. now owns 182,457 shares of the construction company’s stock worth $81,418,000 after purchasing an additional 28,730 shares during the last quarter. Finally, Cannell Capital LLC grew its stake in shares of Cavco Industries by 24.3% during the fourth quarter. Cannell Capital LLC now owns 83,958 shares of the construction company’s stock worth $37,465,000 after purchasing an additional 16,407 shares during the period. 95.56% of the stock is owned by institutional investors.

Cavco Industries Stock Down 1.3 %

Shares of CVCO stock opened at $469.45 on Thursday. Cavco Industries, Inc. has a 12-month low of $331.08 and a 12-month high of $544.08. The firm has a fifty day moving average of $510.87 and a 200-day moving average of $479.96. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 23.10 and a beta of 1.19.

Cavco Industries (NASDAQ:CVCO) last posted its 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%. Research analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Wall Street Analyst Weigh In

CVCO has been the topic of several analyst reports. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Wedbush reiterated a “neutral” rating and issued a $550.00 price target (up 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 Susan L. Blount sold 2,000 shares of the company’s stock in a transaction that occurred 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 owns 2,836 shares in the company, valued at $1,438,362.48. This represents a 41.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owns 15,286 shares of the company’s stock, valued at $8,084,459.68. This represents a 20.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,894 shares of company stock worth $4,140,833. 1.60% of the stock is owned by company insiders.

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.