Cavco Industries, Inc. $CVCO Shares Sold by Ashford Capital Management Inc.

Key Points

• Ashford Capital Management Inc. has reduced its stake in Cavco Industries by 4.9%, now holding 55,465 shares valued at approximately $28.82 million.
• Major institutional investors have shown significant activity, with CWM LLC increasing its position by 44% and Northwestern Mutual Wealth Management boosting its stake by 2,850% in the first quarter.
• Cavco Industries reported a strong quarterly earnings per share of $6.42, exceeding analyst expectations, with revenue of $556.86 million for the quarter.

Ashford Capital Management Inc. decreased its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,465 shares of the construction company's stock after selling 2,830 shares during the quarter. Cavco Industries accounts for about 3.7% of Ashford Capital Management Inc.'s investment portfolio, making the stock its 4th biggest position. Ashford Capital Management Inc. owned 0.68% of Cavco Industries worth $28,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVCO. First Trust Advisors LP grew its stake in Cavco Industries by 15.5% in the fourth quarter. First Trust Advisors LP now owns 4,799 shares of the construction company's stock worth $2,141,000 after purchasing an additional 645 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Cavco Industries by 58.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company's stock worth $219,000 after purchasing an additional 181 shares in the last quarter. Hsbc Holdings PLC grew its stake in Cavco Industries by 177.7% in the fourth quarter. Hsbc Holdings PLC now owns 3,718 shares of the construction company's stock worth $1,663,000 after purchasing an additional 2,379 shares in the last quarter. Northern Trust Corp grew its stake in Cavco Industries by 9.5% in the fourth quarter. Northern Trust Corp now owns 91,732 shares of the construction company's stock worth $40,934,000 after purchasing an additional 7,986 shares in the last quarter. Finally, Lido Advisors LLC grew its stake in Cavco Industries by 33.6% in the fourth quarter. Lido Advisors LLC now owns 784 shares of the construction company's stock worth $350,000 after purchasing an additional 197 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

Analyst Ratings Changes

CVCO has been the topic of several research analyst reports. Wall Street Zen cut Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Wedbush reissued a "neutral" rating and issued a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $522.50.

Cavco Industries Trading Up 2.9%

Shares of CVCO traded up $15.64 during midday trading on Thursday, hitting $549.24. 171,392 shares of the company's stock traded hands, compared to its average volume of 107,336. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $552.45. The firm's fifty day moving average is $459.53 and its 200-day moving average is $477.09. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 23.77 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, beating 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 firm had revenue of $556.86 million during the quarter, compared to analyst estimates of $524.97 million. On average, equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Activity

In other Cavco Industries news, CAO Paul Bigbee sold 300 shares of Cavco Industries stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $530.45, for a total transaction of $159,135.00. Following the completion of the sale, the chief accounting officer owned 774 shares of the company's stock, valued at approximately $410,568.30. The trade was a 27.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard A. Kerley sold 500 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total value of $240,275.00. Following the completion of the transaction, the director directly owned 7,169 shares of the company's stock, valued at approximately $3,445,062.95. This trade represents a 6.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,600 shares of company stock worth $2,820,884. Insiders own 1.60% of the company's stock.

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.