Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Crown Advisors Management Inc.

Key Points

• Crown Advisors Management Inc. has reduced its stake in Cavco Industries, cutting its holdings by 50% to 6,000 shares, accounting for approximately 2.7% of its portfolio.
• Several hedge funds increased their investments in Cavco Industries, with Victory Capital Management Inc. leading with a 103.3% increase, now holding 14,953 shares valued at $7,770,000.
• Cavco Industries reported a strong quarter with earnings per share of $6.42, exceeding analysts' expectations and generating revenue of $556.86 million.

Crown Advisors Management Inc. decreased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 50.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,000 shares of the construction company's stock after selling 6,000 shares during the period. Cavco Industries accounts for 2.7% of Crown Advisors Management Inc.'s investment portfolio, making the stock its 15th biggest position. Crown Advisors Management Inc. owned approximately 0.07% of Cavco Industries worth $3,117,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. CWM LLC grew its position in shares of Cavco Industries by 44.0% in the first quarter. CWM LLC now owns 157 shares of the construction company's stock valued at $82,000 after purchasing an additional 48 shares during the period. ClearAlpha Technologies LP purchased a new stake in Cavco Industries during the fourth quarter valued at about $204,000. DAVENPORT & Co LLC purchased a new stake in Cavco Industries during the first quarter valued at about $208,000. Tower Research Capital LLC TRC grew its position in Cavco Industries by 58.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company's stock valued at $219,000 after acquiring an additional 181 shares during the period. Finally, GAMMA Investing LLC grew its position in Cavco Industries by 38.7% during the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock valued at $229,000 after acquiring an additional 123 shares during the period. Hedge funds and other institutional investors own 95.56% of the company's stock.

Wall Street Analysts Forecast Growth

CVCO has been the subject of a number of research reports. Wedbush reissued a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research report on Monday, August 4th. Wall Street Zen downgraded Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

Cavco Industries Trading Down 0.6%

Shares of CVCO traded down $3.13 during midday trading on Friday, reaching $480.22. 93,119 shares of the company were exchanged, compared to its average volume of 102,919. The stock has a 50-day moving average price of $432.90 and a 200-day moving average price of $477.51. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 20.82 and a beta of 1.15. Cavco Industries, Inc. has a 1-year low of $384.46 and a 1-year high of $549.99.

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, topping analysts' consensus estimates of $5.81 by $0.61. The company had revenue of $556.86 million for the quarter, compared to analysts' expectations of $524.97 million. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. Equities research analysts anticipate 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.