GSA Capital Partners LLP Invests $882,000 in Cavco Industries, Inc. $CVCO

GSA Capital Partners LLP acquired a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,493 shares of the construction company’s stock, valued at approximately $882,000.

Other institutional investors have also recently made changes to their positions in the company. Osaic Holdings Inc. raised its holdings in shares of 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. Danske Bank A S purchased a new position in shares of Cavco Industries during the third quarter worth $58,000. CIBC Private Wealth Group LLC raised its holdings in shares of Cavco Industries by 72.5% during the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock worth $69,000 after purchasing an additional 50 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cavco Industries by 12.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after purchasing an additional 22 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Cavco Industries by 27.4% during the third quarter. Smartleaf Asset Management LLC now owns 186 shares of the construction company’s stock worth $109,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insiders Place Their Bets

In other Cavco Industries news, EVP Allison Aden sold 129 shares of Cavco Industries stock in a transaction on Friday, May 15th. The shares were sold at an average price of $455.76, for a total value of $58,793.04. Following the completion of the transaction, the executive vice president owned 8,806 shares of the company’s stock, valued at approximately $4,013,422.56. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.60% of the company’s stock.

Cavco Industries Stock Performance

CVCO opened at $509.17 on Friday. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $713.01. The company has a fifty day moving average of $495.18 and a two-hundred day moving average of $555.91. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 21.24 and a beta of 1.31.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 earnings per share for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.64%. The company had revenue of $550.13 million during the quarter, compared to analysts’ expectations of $571.06 million. On average, equities research analysts forecast that Cavco Industries, Inc. will post 25 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings cut shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, February 26th. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. 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, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.