Aviance Capital Partners LLC Reduces Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Aviance Capital Partners LLC lessened its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 25.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,752 shares of the construction company's stock after selling 4,817 shares during the period. Cavco Industries makes up 1.0% of Aviance Capital Partners LLC's investment portfolio, making the stock its 18th largest position. Aviance Capital Partners LLC owned 0.17% of Cavco Industries worth $7,146,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CVCO. Harvest Fund Management Co. Ltd acquired a new position in shares of Cavco Industries in the 4th quarter valued at $67,000. Smartleaf Asset Management LLC lifted its stake in Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock worth $72,000 after acquiring an additional 128 shares in the last quarter. ClearAlpha Technologies LP acquired a new position in Cavco Industries during the 4th quarter worth about $204,000. DAVENPORT & Co LLC acquired a new position in Cavco Industries during the 1st quarter worth about $208,000. Finally, New Age Alpha Advisors LLC acquired a new position in Cavco Industries during the 4th quarter worth about $215,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Wall Street Analysts Forecast Growth

CVCO has been the topic of several research reports. Wedbush reissued a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a research note on Tuesday, May 27th. Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday.

Cavco Industries Stock Performance

CVCO stock traded down $10.27 during mid-day trading on Monday, reaching $447.15. The company had a trading volume of 216,649 shares, compared to its average volume of 81,225. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 21.54 and a beta of 1.15. The firm has a fifty day simple moving average of $461.54 and a 200 day simple moving average of $481.31. Cavco Industries, Inc. has a fifty-two week low of $339.55 and a fifty-two week high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.23 by $0.17. The company had revenue of $508.36 million for the quarter, compared to analyst estimates of $504.15 million. Cavco Industries had a return on equity of 17.00% and a net margin of 8.49%. As a group, analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current 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.