Kennedy Capital Management LLC Grows Holdings in Cavco Industries, Inc. $CVCO

Kennedy Capital Management LLC increased its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 94.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 29,984 shares of the construction company’s stock after acquiring an additional 14,581 shares during the quarter. Kennedy Capital Management LLC’s holdings in Cavco Industries were worth $17,413,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVCO. Boston Partners boosted its stake in shares of Cavco Industries by 5,371.3% during the 2nd quarter. Boston Partners now owns 201,947 shares of the construction company’s stock valued at $87,847,000 after buying an additional 198,256 shares during the last quarter. Schroder Investment Management Group raised its holdings in Cavco Industries by 76.9% in the second quarter. Schroder Investment Management Group now owns 130,106 shares of the construction company’s stock valued at $56,522,000 after acquiring an additional 56,578 shares in the last quarter. Voya Investment Management LLC boosted its stake in Cavco Industries by 737.9% during the 3rd quarter. Voya Investment Management LLC now owns 45,348 shares of the construction company’s stock valued at $26,335,000 after acquiring an additional 39,936 shares during the last quarter. Jump Financial LLC grew its holdings in Cavco Industries by 3,047.3% during the 2nd quarter. Jump Financial LLC now owns 23,070 shares of the construction company’s stock worth $10,022,000 after acquiring an additional 22,337 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Cavco Industries by 41.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 76,586 shares of the construction company’s stock worth $33,271,000 after purchasing an additional 22,300 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Activity

In other Cavco Industries news, Director David A. Greenblatt bought 87 shares of Cavco Industries stock in a transaction on Wednesday, February 4th. The stock was purchased at an average cost of $500.00 per share, for a total transaction of $43,500.00. Following the completion of the purchase, the director directly owned 16,076 shares of the company’s stock, valued at $8,038,000. The trade was a 0.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William C. Boor bought 1,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was acquired at an average cost of $495.00 per share, with a total value of $495,000.00. Following the completion of the transaction, the chief executive officer directly owned 48,022 shares of the company’s stock, valued at approximately $23,770,890. This represents a 2.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 1,800 shares of company stock worth $866,592 in the last three months. 1.60% of the stock is owned by insiders.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO traded down $3.24 on Friday, reaching $495.37. 22,186 shares of the company traded hands, compared to its average volume of 213,612. The stock has a market capitalization of $3.84 billion, a PE ratio of 21.59 and a beta of 1.28. The company’s 50 day moving average is $593.33 and its 200-day moving average is $573.24. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, January 29th. The construction company reported $5.58 EPS for the quarter, missing the consensus estimate of $6.00 by ($0.42). The firm had revenue of $580.99 million during the quarter, compared to analyst estimates of $593.37 million. Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%. As a group, analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on CVCO. CJS Securities upgraded Cavco Industries to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research lowered Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. Weiss Ratings downgraded Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Finally, Zelman & Associates upgraded Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $550.00.

Cavco Industries 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.