Cavco Industries, Inc. $CVCO Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC boosted its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,300 shares of the construction company’s stock after buying an additional 3,890 shares during the period. Gabelli Funds LLC’s holdings in Cavco Industries were worth $24,844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Cavco Industries during the 4th quarter valued at about $46,000. Kemnay Advisory Services Inc. purchased a new stake in Cavco Industries in the fourth quarter valued at approximately $50,000. Los Angeles Capital Management LLC acquired a new position in Cavco Industries during the fourth quarter worth approximately $54,000. Osaic Holdings Inc. increased its position in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after purchasing an additional 65 shares during the last quarter. Finally, Danske Bank A S purchased a new position in Cavco Industries during the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analyst Ratings Changes

CVCO has been the subject of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. UBS Group assumed coverage on Cavco Industries in a research report on Friday, June 5th. They issued a “buy” rating and a $700.00 target price on the stock. Finally, Zacks Research upgraded Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $625.00.

Insider Activity

In other Cavco Industries news, EVP Allison Aden sold 1,473 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 9,147 shares in the company, valued at $5,716,875. This represents a 13.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard A. Kerley sold 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total transaction of $294,380.00. Following the completion of the sale, the director directly owned 6,169 shares of the company’s stock, valued at $3,632,060.44. This trade represents a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,541 shares of company stock worth $2,121,932. 1.70% of the stock is currently owned by corporate insiders.

Cavco Industries Trading Up 1.4%

Shares of CVCO stock opened at $569.77 on Friday. The company’s fifty day simple moving average is $565.24 and its 200-day simple moving average is $553.70. Cavco Industries, Inc. has a 52 week low of $397.38 and a 52 week high of $713.01. The company has a market cap of $4.39 billion, a PE ratio of 23.77 and a beta of 1.28.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The firm had revenue of $550.13 million during the quarter, compared to analysts’ expectations of $571.06 million. Equities research analysts expect that Cavco Industries, Inc. will post 24.5 EPS for the current fiscal year.

About Cavco Industries

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.