Punch & Associates Investment Management Inc. Has $22.10 Million Holdings in Cavco Industries, Inc. $CVCO

Key Points

• Punch & Associates Investment Management Inc. increased its stake in Cavco Industries by 1.5%, owning 42,522 shares, which represents about 1.4% of its total holdings.
• Cavco Industries reported a quarterly earnings per share of $6.42, exceeding analysts' expectations of $5.81, alongside a revenue of $556.86 million.
• Insiders sold a total of 5,600 shares of Cavco Industries stock valued at approximately $2.82 million over the last quarter, indicating significant insider trading activity.

Punch & Associates Investment Management Inc. grew its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,522 shares of the construction company's stock after purchasing an additional 633 shares during the period. Cavco Industries makes up approximately 1.4% of Punch & Associates Investment Management Inc.'s holdings, making the stock its 15th biggest position. Punch & Associates Investment Management Inc. owned 0.52% of Cavco Industries worth $22,096,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC raised its position in shares of Cavco Industries by 44.0% during the 1st quarter. CWM LLC now owns 157 shares of the construction company's stock worth $82,000 after buying an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Cavco Industries by 2,850.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company's stock worth $92,000 after purchasing an additional 171 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Cavco Industries during the first quarter worth approximately $112,000. DAVENPORT & Co LLC bought a new stake in Cavco Industries during the first quarter worth approximately $208,000. Finally, GAMMA Investing LLC raised its holdings in Cavco Industries by 38.7% during the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock worth $229,000 after purchasing an additional 123 shares in the last quarter. 95.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director Susan L. Blount sold 2,500 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the completion of the sale, the director directly owned 3,126 shares in the company, valued at approximately $1,623,331.80. This trade represents a 44.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the firm's 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 sale, the director owned 7,169 shares of the company's stock, valued at $3,445,062.95. The trade was a 6.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock valued at $2,820,884 in the last three months. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen cut Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Wedbush reissued a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $522.50.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO traded up $14.09 during trading hours on Thursday, hitting $554.22. 181,229 shares of the company's stock traded hands, compared to its average volume of 109,858. The company's fifty day simple moving average is $470.08 and its two-hundred day simple moving average is $477.56. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 24.02 and a beta of 1.23. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $568.97.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data 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. 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, analysts anticipate 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.