Cavco Industries, Inc. (NASDAQ:CVCO) Position Decreased by Broad Bay Capital Management LP

Broad Bay Capital Management LP lessened its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 16.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 150,686 shares of the construction company's stock after selling 29,490 shares during the period. Cavco Industries makes up 8.3% of Broad Bay Capital Management LP's investment portfolio, making the stock its largest holding. Broad Bay Capital Management LP owned 1.86% of Cavco Industries worth $67,241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CVCO. Harvest Fund Management Co. Ltd purchased a new stake in Cavco Industries during the fourth quarter worth about $67,000. Smartleaf Asset Management LLC boosted its stake in shares of Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock worth $72,000 after acquiring an additional 128 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Cavco Industries by 28.9% in the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after acquiring an additional 55 shares during the period. GAMMA Investing LLC increased its stake in Cavco Industries by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock valued at $142,000 after purchasing an additional 42 shares in the last quarter. Finally, KBC Group NV raised its holdings in Cavco Industries by 35.2% during the fourth quarter. KBC Group NV now owns 330 shares of the construction company's stock worth $147,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Cavco Industries Price Performance

NASDAQ:CVCO traded down $2.90 during trading hours on Friday, reaching $524.14. 43,300 shares of the company traded hands, compared to its average volume of 64,255. The firm's 50-day moving average is $499.88 and its 200-day moving average is $486.92. The stock has a market cap of $4.25 billion, a P/E ratio of 25.79 and a beta of 1.29. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year high of $544.08.

Analysts Set New Price Targets

Several research firms have weighed in on CVCO. Wedbush reissued a "neutral" rating and issued a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com raised shares of Cavco Industries from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

Insider Activity

In related news, Director David A. Greenblatt sold 4,000 shares of the business's 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 owns 15,286 shares of the company's stock, valued at approximately $8,084,459.68. The trade was a 20.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company's stock.

About Cavco Industries

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.