AlphaQuest LLC Has $1.26 Million Stake in Cavco Industries, Inc. $CVCO

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 lifted its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 160.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,430 shares of the construction company's stock after buying an additional 1,497 shares during the quarter. 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 modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Cavco Industries by 103.3% during the 1st quarter. Victory Capital Management Inc. now owns 14,953 shares of the construction company's stock worth $7,770,000 after buying an additional 7,598 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Cavco Industries by 62.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,403 shares of the construction company's stock worth $6,402,000 after acquiring an additional 4,779 shares during the last quarter. GAMMA Investing LLC boosted its stake in Cavco Industries by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock worth $229,000 after acquiring an additional 123 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Cavco Industries during the 1st quarter worth approximately $1,115,000. Finally, Informed Momentum Co LLC bought a new position in Cavco Industries during the 1st quarter worth approximately $4,480,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Stock Performance

Shares of CVCO opened at $519.55 on Friday. Cavco Industries, Inc. has a twelve month low of $390.40 and a twelve month high of $549.99. The firm's 50 day moving average price is $440.32 and its two-hundred day moving average price is $476.96. The firm has a market cap of $4.11 billion, a P/E ratio of 22.52 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, beating analysts' consensus estimates of $5.81 by $0.61. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. The firm had revenue of $556.86 million for the quarter, compared to analyst estimates of $524.97 million. On average, sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVCO. Wedbush reissued a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $522.50.

Insider Buying and Selling

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of Cavco Industries stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 of the company's stock, valued at approximately $3,445,062.95. The trade was a 6.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan L. Blount sold 2,000 shares of Cavco Industries stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $483.21, for a total transaction of $966,420.00. Following the completion of the transaction, the director directly owned 3,126 shares in the company, valued at approximately $1,510,514.46. The trade was a 39.02% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

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.

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