Robotti Robert Sells 1,065 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Key Points

• Robotti Robert has reduced its stake in Cavco Industries by 2.6%, now owning 40,343 shares which make up 4.2% of its portfolio.
• Institutional investors control 95.56% of Cavco Industries' stock, with significant increases in ownership from firms like LPL Financial LLC and Wells Fargo.
• Cavco Industries reported earnings of $6.42 per share in its last quarter, surpassing estimates by $0.61, and had a revenue of $556.86 million compared to expectations of $524.97 million.

Robotti Robert lessened its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 2.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 40,343 shares of the construction company's stock after selling 1,065 shares during the period. Cavco Industries comprises about 4.2% of Robotti Robert's portfolio, making the stock its 6th largest holding. Robotti Robert owned 0.50% of Cavco Industries worth $20,963,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CVCO. CWM LLC lifted its holdings 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 in the last quarter. ClearAlpha Technologies LP purchased a new position in shares of Cavco Industries during the fourth quarter valued at $204,000. DAVENPORT & Co LLC purchased a new position in shares of Cavco Industries during the first quarter valued at $208,000. Tower Research Capital LLC TRC grew its holdings in shares of 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 buying an additional 181 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO traded down $3.13 during midday trading on Friday, hitting $480.22. 93,119 shares of the stock were exchanged, compared to its average volume of 106,836. Cavco Industries, Inc. has a 52-week low of $384.46 and a 52-week high of $549.99. The business's fifty day simple moving average is $432.90 and its two-hundred day simple moving average is $477.58. The company has a market capitalization of $3.80 billion, a PE ratio of 20.82 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced 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. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. The business had revenue of $556.86 million during the quarter, compared to analyst estimates of $524.97 million. As a group, equities analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Ratings Changes

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

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.