Cavco Industries, Inc. $CVCO Shares Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its holdings in Cavco Industries, raising its stake by 160.5% during the first quarter, bringing the total value of its investment to $1.26 million.
• Several other institutional investors also boosted their stakes in Cavco Industries, reflecting a strong interest in the company, with institutional ownership now at 95.56%.
• Cavco Industries reported earnings of $6.42 per share for the last quarter, exceeding analyst expectations of $5.81, demonstrating solid financial performance amidst growing demand for affordable housing.

AlphaQuest LLC grew its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 160.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,430 shares of the construction company's stock after purchasing an additional 1,497 shares during the period. AlphaQuest LLC's holdings in Cavco Industries were worth $1,263,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Cavco Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company's stock valued at $402,631,000 after purchasing an additional 37,249 shares during the period. GAMMA Investing LLC lifted its position in Cavco Industries by 71,961.9% during the first quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock valued at $119,077,000 after purchasing an additional 228,839 shares during the period. Invesco Ltd. lifted its position in Cavco Industries by 7.5% during the first quarter. Invesco Ltd. now owns 196,210 shares of the construction company's stock valued at $101,957,000 after purchasing an additional 13,753 shares during the period. GW&K Investment Management LLC increased its holdings in shares of Cavco Industries by 0.8% during the 1st quarter. GW&K Investment Management LLC now owns 190,227 shares of the construction company's stock valued at $98,848,000 after purchasing an additional 1,512 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Cavco Industries by 64.0% during the 1st quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company's stock valued at $80,940,000 after purchasing an additional 60,779 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 stock. Wedbush reaffirmed a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a report on Monday, August 4th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Cavco Industries currently has an average rating of "Moderate Buy" and a consensus price target of $522.50.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director Susan L. Blount sold 2,500 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $519.30, for a total value of $1,298,250.00. Following the transaction, the director owned 3,126 shares of the company's stock, valued at $1,623,331.80. This represents a 44.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Paul Bigbee sold 300 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $522.68, for a total transaction of $156,804.00. Following the completion of the transaction, the chief accounting officer directly owned 1,074 shares in the company, valued at $561,358.32. The trade was a 21.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,300 shares of company stock valued at $2,661,749 over the last 90 days. 1.60% of the stock is owned by insiders.

Cavco Industries Trading Up 0.3%

CVCO stock traded up $1.63 during midday trading on Friday, hitting $532.01. 33,090 shares of the company's stock were exchanged, compared to its average volume of 106,483. The business has a 50-day simple moving average of $450.16 and a two-hundred day simple moving average of $477.16. The stock has a market capitalization of $4.21 billion, a PE ratio of 23.06 and a beta of 1.15. Cavco Industries, Inc. has a 1-year low of $390.46 and a 1-year high of $549.99.

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

Cavco Industries Company 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.