1,887 Shares in Cavco Industries, Inc. (NASDAQ:CVCO) Bought by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. acquired 1,887 shares of Cavco Industries, valued at approximately $981,000, as the company expands its holdings in the construction sector.
• Several hedge funds, including FMR LLC and GAMMA Investing LLC, have significantly increased their stakes in Cavco Industries, reflecting strong institutional interest in the company.
• Cavco Industries reported earnings per share of $6.42 for the last quarter, exceeding expectations and indicating positive growth amidst strong demand for affordable housing.

Jefferies Financial Group Inc. bought a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,887 shares of the construction company's stock, valued at approximately $981,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC increased its stake in shares of Cavco Industries by 44.0% during the first quarter. CWM LLC now owns 157 shares of the construction company's stock valued at $82,000 after purchasing an additional 48 shares in the last quarter. ClearAlpha Technologies LP bought a new position in Cavco Industries during the 4th quarter valued at approximately $204,000. DAVENPORT & Co LLC purchased a new position in Cavco Industries during the first quarter valued at $208,000. Tower Research Capital LLC TRC boosted its holdings in Cavco Industries by 58.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company's stock worth $219,000 after acquiring an additional 181 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Cavco Industries by 38.7% in the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock worth $229,000 after acquiring an additional 123 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wedbush restated a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a report on Monday. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th.

Cavco Industries Stock Performance

Shares of CVCO stock traded up $5.60 during mid-day trading on Friday, hitting $457.09. The company's stock had a trading volume of 28,250 shares, compared to its average volume of 102,087. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 19.81 and a beta of 1.15. Cavco Industries, Inc. has a 52-week low of $359.26 and a 52-week high of $549.99. The business has a 50-day moving average price of $427.45 and a 200 day moving average price of $477.58.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, topping the consensus estimate of $5.81 by $0.61. The company had revenue of $556.86 million during the quarter, compared to the consensus estimate of $524.97 million. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. Equities research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

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.