Jacobs Levy Equity Management Inc. Acquires 7,093 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Jacobs Levy Equity Management Inc. grew its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 13.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,665 shares of the construction company's stock after purchasing an additional 7,093 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.72% of Cavco Industries worth $26,178,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of Cavco Industries by 162.0% during the third quarter. Barclays PLC now owns 17,234 shares of the construction company's stock worth $7,381,000 after acquiring an additional 10,656 shares during the period. Park Avenue Securities LLC grew its position in Cavco Industries by 30.8% in the fourth quarter. Park Avenue Securities LLC now owns 1,369 shares of the construction company's stock valued at $611,000 after purchasing an additional 322 shares in the last quarter. Avanza Fonder AB bought a new position in Cavco Industries in the fourth quarter valued at $211,000. Crossmark Global Holdings Inc. grew its position in Cavco Industries by 28.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 622 shares of the construction company's stock valued at $277,000 after purchasing an additional 138 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its position in Cavco Industries by 66.7% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the construction company's stock valued at $1,116,000 after purchasing an additional 1,000 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of Cavco Industries 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 sale, the director now owns 15,286 shares in the company, valued at $8,084,459.68. The trade was a 20.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company's stock.

Cavco Industries Trading Up 1.5%

Shares of CVCO traded up $7.62 during midday trading on Friday, reaching $528.01. The stock had a trading volume of 53,889 shares, compared to its average volume of 64,308. The firm has a 50 day simple moving average of $500.63 and a 200-day simple moving average of $492.07. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $549.99. The firm has a market cap of $4.28 billion, a PE ratio of 25.98 and a beta of 1.29.

Analysts Set New Price Targets

CVCO has been the subject of a number of analyst reports. Wedbush reaffirmed a "neutral" rating and issued a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Thursday.

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.