Sei Investments Co. Increases Position in Cavco Industries, Inc. $CVCO

Sei Investments Co. increased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 82.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,494 shares of the construction company’s stock after buying an additional 5,655 shares during the period. Sei Investments Co. owned about 0.16% of Cavco Industries worth $6,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Cavco Industries during the 4th quarter valued at approximately $46,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Cavco Industries in the 4th quarter worth approximately $50,000. Los Angeles Capital Management LLC purchased a new position in Cavco Industries in the 4th quarter valued at approximately $54,000. Danske Bank A S purchased a new position in Cavco Industries in the 3rd quarter valued at approximately $58,000. Finally, CIBC Private Wealth Group LLC raised its holdings in Cavco Industries by 72.5% during the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock worth $69,000 after purchasing an additional 50 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on CVCO shares. UBS Group started coverage on Cavco Industries in a research report on Friday, June 5th. They set a “buy” rating and a $700.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $700.00.

Insider Transactions at Cavco Industries

In other news, EVP Allison Aden sold 1,473 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total value of $920,625.00. Following the sale, the executive vice president directly owned 9,147 shares in the company, valued at $5,716,875. This represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Paul Bigbee sold 200 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $537.75, for a total value of $107,550.00. Following the sale, the chief accounting officer directly owned 1,105 shares in the company, valued at approximately $594,213.75. The trade was a 15.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,571 shares of company stock valued at $2,139,031 over the last three months. 1.70% of the stock is currently owned by insiders.

Cavco Industries Price Performance

CVCO stock opened at $545.64 on Tuesday. The company’s 50 day simple moving average is $574.46 and its 200-day simple moving average is $549.94. Cavco Industries, Inc. has a 12 month low of $422.26 and a 12 month high of $713.01. The firm has a market capitalization of $4.21 billion, a PE ratio of 23.74 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%.The company had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. As a group, sell-side analysts anticipate that Cavco Industries, Inc. will post 24.5 earnings per share for the current year.

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.