5,000 Shares in Cavco Industries, Inc. $CVCO Purchased by Crown Advisors Management Inc.

Key Points

• Crown Advisors Management purchased 5,000 Cavco Industries shares worth approximately $3.1 million, giving it a 0.07% stake; institutional investors collectively own 95.56% of the company.
• Cavco reported quarterly EPS of $5.43, below the $5.69 consensus estimate, while revenue of $609.96 million exceeded expectations of $590.54 million.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $700 price target. Shares recently traded at $605.05, while insiders sold $2.08 million of stock over the past three months.

Crown Advisors Management Inc. purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,000 shares of the construction company's stock, valued at approximately $3,072,000. Cavco Industries accounts for about 1.7% of Crown Advisors Management Inc.'s portfolio, making the stock its 21st biggest position. Crown Advisors Management Inc. owned about 0.07% of Cavco Industries at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cavco Industries by 852,093.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company's stock worth $1,062,226,000 after purchasing an additional 1,797,917 shares during the period. Boston Partners boosted its stake in Cavco Industries by 82.8% in the 3rd quarter. Boston Partners now owns 369,177 shares of the construction company's stock valued at $213,866,000 after purchasing an additional 167,230 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Cavco Industries by 53.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 213,572 shares of the construction company's stock valued at $126,166,000 after purchasing an additional 74,542 shares during the period. Bank of New York Mellon Corp bought a new stake in Cavco Industries in the 2nd quarter valued at $28,096,000. Finally, Goldman Sachs Group Inc. grew its holdings in Cavco Industries by 122.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 74,155 shares of the construction company's stock valued at $43,806,000 after buying an additional 40,832 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total value of $294,380.00. Following the transaction, the director owned 6,169 shares in the company, valued at approximately $3,632,060.44. This trade represents a 7.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Paul Bigbee sold 200 shares of the business's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $537.75, for a total value of $107,550.00. Following the transaction, the chief accounting officer directly owned 1,105 shares of the company's stock, valued at $594,213.75. This trade represents a 15.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 3,442 shares of company stock worth $2,080,238 over the last three months. Insiders own 1.70% of the company's stock.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $605.05 on Monday. The firm has a 50 day moving average of $583.18 and a 200-day moving average of $543.91. Cavco Industries, Inc. has a 12 month low of $443.33 and a 12 month high of $713.01. The stock has a market capitalization of $4.65 billion, a PE ratio of 26.33 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.69 by ($0.26). The firm had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%. On average, research analysts predict that Cavco Industries, Inc. will post 22.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on CVCO. Zacks Research downgraded shares of Cavco Industries from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. Zelman & Associates cut shares of Cavco Industries from an "outperform" rating to a "neutral" rating in a report on Thursday, August 6th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Finally, UBS Group assumed coverage on Cavco Industries in a research note on Friday, June 5th. They issued a "buy" rating and a $700.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $700.00.

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.

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