Brasada Capital Management LP Takes $5.46 Million Position in Cavco Industries, Inc. $CVCO

Brasada Capital Management LP acquired a new position in Cavco Industries, Inc. (NASDAQ:CVCO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,885 shares of the construction company’s stock, valued at approximately $5,459,000. Brasada Capital Management LP owned 0.12% of Cavco Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in CVCO. UBS Group AG increased its holdings in shares of Cavco Industries by 31.5% during the 4th quarter. UBS Group AG now owns 40,017 shares of the construction company’s stock worth $23,640,000 after purchasing an additional 9,589 shares during the period. Fifth Third Bancorp lifted its stake in shares of Cavco Industries by 599.0% in the first quarter. Fifth Third Bancorp now owns 2,824 shares of the construction company’s stock valued at $1,367,000 after buying an additional 2,420 shares during the period. Robotti Robert bought a new stake in shares of Cavco Industries in the second quarter valued at about $19,903,000. Intech Investment Management LLC grew its position in Cavco Industries by 58.0% during the fourth quarter. Intech Investment Management LLC now owns 5,766 shares of the construction company’s stock worth $3,406,000 after buying an additional 2,116 shares in the last quarter. Finally, Pier Capital LLC increased its stake in Cavco Industries by 90.8% during the fourth quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock valued at $7,150,000 after acquiring an additional 5,761 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

Analysts Set New Price Targets

CVCO has been the topic of several recent research reports. Zacks Research lowered Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. UBS Group began coverage on Cavco Industries in a research note on Friday, June 5th. They issued a “buy” rating and a $700.00 target price for the company. Zelman & Associates downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a report on Friday, August 21st. 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 stock. Based on data from MarketBeat, Cavco Industries has an average rating of “Hold” and an average price target of $700.00.

Insider Transactions at Cavco Industries

In other Cavco Industries news, EVP Allison Aden sold 1,473 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $625.00, for a total value of $920,625.00. Following the transaction, the executive vice president directly owned 9,147 shares in the company, valued at $5,716,875. The trade was a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total transaction of $294,380.00. Following the sale, the director directly owned 6,169 shares in the company, valued at $3,632,060.44. This represents a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 3,553 shares of company stock valued at $2,159,368. 1.70% of the stock is owned by insiders.

Cavco Industries Trading Down 1.2%

CVCO stock opened at $570.27 on Friday. Cavco Industries, Inc. has a 1-year low of $443.33 and a 1-year high of $713.01. The firm has a market cap of $4.39 billion, a P/E ratio of 24.82 and a beta of 1.29. The business’s 50 day moving average is $582.80 and its 200-day moving average is $546.65.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.69 by ($0.26). Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. The company had revenue of $609.96 million during the quarter, compared to analyst estimates of $590.54 million. Sell-side analysts forecast that Cavco Industries, Inc. will post 22.75 EPS 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.