Rafferty Asset Management LLC Has $6.94 Million Stock Position in Cavco Industries, Inc. $CVCO

Rafferty Asset Management LLC lifted its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 83.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,951 shares of the construction company’s stock after buying an additional 5,448 shares during the period. Rafferty Asset Management LLC’s holdings in Cavco Industries were worth $6,940,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after acquiring an additional 22 shares in the last quarter. Sheets Smith Wealth Management lifted its holdings in shares of Cavco Industries by 1.4% during the 3rd quarter. Sheets Smith Wealth Management now owns 2,245 shares of the construction company’s stock valued at $1,304,000 after purchasing an additional 31 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Cavco Industries by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 872 shares of the construction company’s stock valued at $506,000 after purchasing an additional 32 shares during the period. Guidance Capital Inc. increased its stake in Cavco Industries by 3.3% during the 3rd quarter. Guidance Capital Inc. now owns 1,122 shares of the construction company’s stock worth $663,000 after purchasing an additional 36 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Cavco Industries by 27.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 186 shares of the construction company’s stock worth $109,000 after buying an additional 40 shares during the period. 95.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO William C. Boor bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average price of $495.00 per share, for a total transaction of $495,000.00. Following the completion of the acquisition, the chief executive officer owned 48,022 shares of the company’s stock, valued at approximately $23,770,890. The trade was a 2.13% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Greenblatt purchased 87 shares of Cavco Industries stock in a transaction that occurred on Wednesday, February 4th. The shares were bought at an average cost of $500.00 per share, with a total value of $43,500.00. Following the completion of the transaction, the director directly owned 16,076 shares of the company’s stock, valued at approximately $8,038,000. The trade was a 0.54% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 1,800 shares of company stock worth $866,592. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Trading Down 2.5%

Cavco Industries stock opened at $563.11 on Tuesday. The company has a market cap of $4.37 billion, a P/E ratio of 24.46 and a beta of 1.27. Cavco Industries, Inc. has a 1-year low of $393.53 and a 1-year high of $713.01. The company has a fifty day simple moving average of $603.22 and a 200 day simple moving average of $571.78.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly 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). Cavco Industries had a return on equity of 17.84% and a net margin of 8.37%.The business had revenue of $580.99 million for the quarter, compared to the consensus estimate of $593.37 million. On average, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analysts Set New Price Targets

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

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.