BNP Paribas Financial Markets Reduces Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

BNP Paribas Financial Markets lessened its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 85.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,128 shares of the construction company's stock after selling 6,681 shares during the period. BNP Paribas Financial Markets' holdings in Cavco Industries were worth $503,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CVCO. Harvest Fund Management Co. Ltd bought a new position in Cavco Industries during the fourth quarter valued at approximately $67,000. Smartleaf Asset Management LLC raised its holdings in shares of Cavco Industries by 387.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock valued at $72,000 after purchasing an additional 128 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock valued at $105,000 after purchasing an additional 55 shares in the last quarter. KBC Group NV increased its holdings in shares of Cavco Industries by 35.2% in the 4th quarter. KBC Group NV now owns 330 shares of the construction company's stock valued at $147,000 after acquiring an additional 86 shares during the period. Finally, ClearAlpha Technologies LP purchased a new position in shares of Cavco Industries in the 4th quarter valued at $204,000. Institutional investors own 95.56% of the company's stock.

Cavco Industries Stock Down 0.1%

Shares of Cavco Industries stock traded down $0.65 during trading on Thursday, reaching $434.38. The company's stock had a trading volume of 132,614 shares, compared to its average volume of 65,440. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year high of $549.99. The company has a 50-day simple moving average of $495.23 and a two-hundred day simple moving average of $493.41. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 21.38 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.17. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. The business had revenue of $508.36 million during the quarter, compared to the consensus estimate of $504.15 million. As a group, analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CVCO shares. Wedbush reaffirmed a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research report on Tuesday. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.

Insider Buying and Selling

In related news, Director David A. Greenblatt sold 4,000 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the transaction, the director now directly owns 15,286 shares of the company's stock, valued at $8,084,459.68. This represents a 20.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

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.