Y Intercept Hong Kong Ltd Invests $4.41 Million in Cavco Industries, Inc. $CVCO

Y Intercept Hong Kong Ltd bought a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,115 shares of the construction company’s stock, valued at approximately $4,414,000. Y Intercept Hong Kong Ltd owned about 0.12% of Cavco Industries as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Cavco Industries during the fourth quarter worth $46,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Cavco Industries in the 4th quarter worth $50,000. Los Angeles Capital Management LLC acquired a new stake in shares of Cavco Industries in the 4th quarter worth $54,000. Osaic Holdings Inc. grew its stake in Cavco Industries by 118.2% during the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after buying an additional 65 shares during the last quarter. Finally, Danske Bank A S acquired a new position in Cavco Industries during the 3rd quarter valued at about $58,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group started coverage on Cavco Industries in a research note on Friday, June 5th. They issued a “buy” rating and a $700.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Finally, Zacks Research raised shares of 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 given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $625.00.

Insider Activity

In other news, EVP Allison Aden sold 1,473 shares of the firm’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 transaction, the executive vice president owned 9,147 shares in the company, valued at $5,716,875. This trade represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Paul Bigbee sold 200 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the sale, the chief accounting officer owned 1,105 shares of the company’s stock, valued at $594,213.75. The trade was a 15.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,541 shares of company stock worth $2,121,932 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $598.73 on Monday. Cavco Industries, Inc. has a 1 year low of $397.38 and a 1 year high of $713.01. The company’s fifty day moving average price is $543.60 and its 200 day moving average price is $556.62. The company has a market capitalization of $4.62 billion, a PE ratio of 24.98 and a beta of 1.28.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data 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 business had revenue of $550.13 million during the quarter, compared to the consensus estimate of $571.06 million. On average, equities analysts expect that Cavco Industries, Inc. will post 25 EPS for the current 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.