Balyasny Asset Management L.P. Cuts Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Balyasny Asset Management L.P. trimmed its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 94.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 822 shares of the construction company's stock after selling 14,279 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Cavco Industries were worth $367,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CVCO. Harvest Fund Management Co. Ltd purchased a new position in Cavco Industries in the 4th quarter worth $67,000. Smartleaf Asset Management LLC lifted its stake in shares of Cavco Industries by 387.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock valued at $72,000 after acquiring an additional 128 shares during the last quarter. Blue Trust Inc. boosted its holdings in Cavco Industries by 28.9% during the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock valued at $105,000 after acquiring an additional 55 shares during the period. KBC Group NV lifted its position in Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company's stock valued at $147,000 after purchasing an additional 86 shares during the last quarter. Finally, ClearAlpha Technologies LP bought a new position in Cavco Industries during the 4th quarter valued at approximately $204,000. Hedge funds and other institutional investors own 95.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Wedbush reaffirmed a "neutral" rating and issued a $550.00 target price (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd.

Cavco Industries Trading Down 1.5%

Shares of CVCO stock traded down $7.94 during midday trading on Wednesday, reaching $511.83. 91,050 shares of the stock were exchanged, compared to its average volume of 64,532. Cavco Industries, Inc. has a 1 year low of $331.08 and a 1 year high of $549.99. The firm has a market cap of $4.15 billion, a PE ratio of 25.15 and a beta of 1.29. The company's 50 day moving average is $501.43 and its two-hundred day moving average is $493.33.

Insider Activity at Cavco Industries

In related news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total value of $2,115,520.00. Following the completion of the transaction, the director now directly owns 15,286 shares in the company, valued at $8,084,459.68. This trade represents a 20.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Profile

Cavco Industries, Inc designs, produces, and retails factory-built homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its factory-built homes under the Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry, and Solitaire brands.