Algert Global LLC Has $883,000 Position in Cavco Industries, Inc. (NASDAQ:CVCO)
Algert Global LLC lowered its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 10.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,812 shares of the construction company’s stock after selling 804 shares during the period. Algert Global LLC’s holdings in Cavco Industries were worth $883,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue boosted its position in shares of Cavco Industries by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 930 shares of the construction company’s stock worth $108,000 after buying an additional 20 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Cavco Industries by 34.3% in the first quarter. Victory Capital Management Inc. now owns 1,288 shares of the construction company’s stock worth $150,000 after buying an additional 329 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Cavco Industries during the first quarter worth about $202,000. Mason Street Advisors LLC boosted its position in shares of Cavco Industries by 7.0% in the first quarter. Mason Street Advisors LLC now owns 1,977 shares of the construction company’s stock worth $230,000 after buying an additional 130 shares in the last quarter. Finally, Suntrust Banks Inc. acquired a new position in shares of Cavco Industries during the first quarter worth about $233,000. Hedge funds and other institutional investors own 98.08% of the company’s stock.
Cavco Industries, Inc. (CVCO) opened at 137.10 on Thursday. Cavco Industries, Inc. has a one year low of $88.65 and a one year high of $143.10. The firm has a market capitalization of $1.24 billion, a PE ratio of 32.88 and a beta of 1.53. The stock’s 50 day moving average is $131.37 and its 200-day moving average is $119.09.
Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.20. The company had revenue of $206.80 million during the quarter, compared to analyst estimates of $200.70 million. Cavco Industries had a net margin of 5.56% and a return on equity of 11.40%. Cavco Industries’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. On average, analysts anticipate that Cavco Industries, Inc. will post $4.65 EPS for the current fiscal year.
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Separately, BidaskClub upgraded shares of Cavco Industries from a “sell” rating to a “hold” rating in a report on Friday, August 4th.
In related news, Director William C. Boor sold 3,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $130.59, for a total value of $391,770.00. Following the completion of the transaction, the director now directly owns 6,397 shares in the company, valued at approximately $835,384.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.44% of the stock is owned by company insiders.
Cavco Industries Company Profile
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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