Cavco Industries, Inc. $CVCO Stock Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 56.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,292 shares of the construction company’s stock after selling 1,693 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cavco Industries were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Diversified Management Inc. acquired a new stake in Cavco Industries during the 3rd quarter worth about $1,707,000. GAMMA Investing LLC lifted its holdings in shares of Cavco Industries by 23.1% during the third quarter. GAMMA Investing LLC now owns 511 shares of the construction company’s stock worth $286,000 after purchasing an additional 96 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Cavco Industries by 82.9% during the third quarter. Versant Capital Management Inc now owns 75 shares of the construction company’s stock worth $42,000 after purchasing an additional 34 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Cavco Industries during the second quarter worth about $153,000. Finally, IFP Advisors Inc boosted its position in Cavco Industries by 2,850.0% in the second quarter. IFP Advisors Inc now owns 59 shares of the construction company’s stock valued at $36,000 after buying an additional 57 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cavco Industries

In other news, CAO Paul Bigbee sold 342 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total transaction of $202,464.00. Following the completion of the transaction, the chief accounting officer directly owned 736 shares of the company’s stock, valued at $435,712. This represents a 31.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Oppenheimer initiated coverage on shares of Cavco Industries in a report on Wednesday, September 30th. They issued an “outperform” rating and a $720.00 price target on the stock. Weiss Ratings upgraded Cavco Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 29th. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, Zelman & Associates cut Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $710.00.

Cavco Industries Trading Up 6.0%

NASDAQ CVCO opened at $547.44 on Friday. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 22.47 and a beta of 1.27. Cavco Industries, Inc. has a twelve month low of $443.33 and a twelve month high of $713.01. The stock has a 50-day moving average of $553.67 and a 200 day moving average of $550.61.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%. The business had revenue of $609.96 million for the quarter, compared to analysts’ expectations of $590.54 million. Equities analysts predict that Cavco Industries, Inc. will post 22.66 EPS for the current fiscal year.

Cavco Industries Company Profile

Cavco Industries, Inc is a manufacturer of factory-built housing and related products. The company designs and produces manufactured homes, modular homes, park model recreational vehicles, and commercial structures for residential, hospitality, and other applications. Its homes are sold through independent retailers, company-owned retail locations, and a network of housing dealers.

Cavco markets its products under several brands, including Cavco, Fleetwood Homes, Palm Harbor Homes, Nationwide Homes, Solitaire Homes, and CountryPlace.