Ashford Capital Management Inc. Increases Holdings in Cavco Industries, Inc. (CVCO)
Ashford Capital Management Inc. raised its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,629 shares of the construction company’s stock after buying an additional 2,500 shares during the quarter. Cavco Industries comprises 2.9% of Ashford Capital Management Inc.’s portfolio, making the stock its 11th largest position. Ashford Capital Management Inc. owned approximately 1.19% of Cavco Industries worth $22,349,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC raised its stake in Cavco Industries by 174.8% during the second quarter. Acadian Asset Management LLC now owns 599 shares of the construction company’s stock valued at $124,000 after buying an additional 381 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of Cavco Industries during the 2nd quarter worth approximately $208,000. Janney Montgomery Scott LLC acquired a new stake in shares of Cavco Industries during the 2nd quarter worth approximately $216,000. Profund Advisors LLC acquired a new stake in shares of Cavco Industries during the 1st quarter worth approximately $213,000. Finally, Amalgamated Bank acquired a new stake in shares of Cavco Industries during the 1st quarter worth approximately $215,000. Hedge funds and other institutional investors own 91.34% of the company’s stock.
In other news, CEO Joseph H. Stegmayer sold 11,740 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $240.44, for a total transaction of $2,822,765.60. Following the sale, the chief executive officer now directly owns 522,739 shares in the company, valued at approximately $125,687,365.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles E. Lott sold 2,000 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $244.60, for a total value of $489,200.00. Following the sale, the insider now owns 4,505 shares in the company, valued at $1,101,923. The disclosure for this sale can be found here. 8.46% of the stock is currently owned by corporate insiders.
Shares of Cavco Industries stock opened at $256.95 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.82 and a current ratio of 2.44. The company has a market cap of $2.26 billion, a PE ratio of 36.01 and a beta of 1.48. Cavco Industries, Inc. has a twelve month low of $135.05 and a twelve month high of $261.80.
Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Tuesday, August 7th. The construction company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.57. The business had revenue of $246.40 million for the quarter, compared to analysts’ expectations of $233.10 million. Cavco Industries had a return on equity of 14.34% and a net margin of 7.62%. The business’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS.
About Cavco Industries
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.
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