Assenagon Asset Management S.A. Sells 5,318 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Assenagon Asset Management S.A. trimmed its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 17.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 25,997 shares of the construction company's stock after selling 5,318 shares during the quarter. Assenagon Asset Management S.A. owned about 0.32% of Cavco Industries worth $13,509,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Cavco Industries by 71,961.9% during the 1st quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock worth $119,077,000 after buying an additional 228,839 shares in the last quarter. FMR LLC increased its holdings in Cavco Industries by 118.8% in the 4th quarter. FMR LLC now owns 296,343 shares of the construction company's stock worth $132,237,000 after purchasing an additional 160,899 shares in the last quarter. Janus Henderson Group PLC increased its holdings 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 purchasing an additional 66,120 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in Cavco Industries in the 4th quarter worth about $20,382,000. Finally, Norges Bank acquired a new position in Cavco Industries in the 4th quarter worth about $17,730,000. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Stock Down 1.3%

NASDAQ:CVCO traded down $5.35 on Tuesday, hitting $400.95. The stock had a trading volume of 217,462 shares, compared to its average volume of 73,943. The business's fifty day moving average is $474.21 and its 200 day moving average is $486.99. The company has a market cap of $3.22 billion, a PE ratio of 19.31 and a beta of 1.16. Cavco Industries, Inc. has a 52 week low of $331.08 and a 52 week high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, topping the consensus estimate of $5.23 by $0.17. The firm had revenue of $508.36 million during the quarter, compared to the consensus estimate of $504.15 million. Cavco Industries had a return on equity of 17.00% and a net margin of 8.49%. Equities analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CVCO. Wedbush reiterated a "neutral" rating and issued a $550.00 price target on shares of Cavco Industries in a research report on Tuesday, May 27th. Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th.

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.