Fox Run Management L.L.C. Purchases New Position in Cavco Industries, Inc. $CVCO

Key Points

• Fox Run Management L.L.C. has acquired 801 shares of Cavco Industries, valued at approximately $416,000, indicating growing institutional interest in the company.
• Cavco Industries reported a quarterly earnings per share (EPS) of $6.42, exceeding analysts' expectations by $0.61, with revenues reaching $556.86 million for the quarter.
• Following a sale of 2,000 shares by Director Susan L. Blount, her total holdings have decreased by 39.02%, though she still owns shares valued at approximately $1.5 million.

Fox Run Management L.L.C. bought a new position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 801 shares of the construction company's stock, valued at approximately $416,000.

A number of other institutional investors have also added to or reduced their stakes in CVCO. GAMMA Investing LLC increased its stake in Cavco Industries by 71,961.9% in the 1st quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock worth $119,077,000 after acquiring an additional 228,839 shares during the last quarter. Janus Henderson Group PLC increased its stake in Cavco Industries by 1,030.9% in the 4th quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company's stock worth $32,371,000 after acquiring an additional 66,120 shares during the last quarter. Vanguard Group Inc. increased its stake in Cavco Industries by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company's stock worth $402,631,000 after acquiring an additional 37,249 shares during the last quarter. Nuveen LLC bought a new position in Cavco Industries in the 1st quarter worth about $11,748,000. Finally, Capital Research Global Investors purchased a new stake in Cavco Industries during the fourth quarter valued at about $9,863,000. 95.56% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total value of $240,275.00. Following the transaction, the director owned 7,169 shares in the company, valued at approximately $3,445,062.95. The trade was a 6.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan L. Blount sold 2,000 shares of Cavco Industries stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $483.21, for a total value of $966,420.00. Following the completion of the transaction, the director owned 3,126 shares in the company, valued at approximately $1,510,514.46. This represents a 39.02% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CVCO has been the topic of a number of research reports. Wall Street Zen downgraded Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Wedbush restated a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Cavco Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $522.50.

Cavco Industries Stock Up 6.6%

Shares of CVCO traded up $32.26 during trading hours on Friday, hitting $519.55. The company had a trading volume of 163,155 shares, compared to its average volume of 120,494. The firm has a market cap of $4.11 billion, a P/E ratio of 22.52 and a beta of 1.15. The stock's 50 day moving average price is $440.32 and its 200 day moving average price is $477.35. Cavco Industries, Inc. has a 52-week low of $390.40 and a 52-week high of $549.99.

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 firm had revenue of $556.86 million for 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%. On average, research analysts expect 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.