Citigroup Inc. Has $10.29 Million Stock Position in Cavco Industries, Inc. $CVCO

Key Points

• Citigroup Inc. increased its stake in Cavco Industries by 12.9%, acquiring an additional 2,266 shares to bring its total holdings to 19,809 shares valued at approximately $10.3 million.
• Other institutional investors, like Vanguard Group and GAMMA Investing LLC, also made significant increases in their holdings of Cavco Industries recently, demonstrating strong interest in the company's stock.
• Cavco Industries reported a Q2 EPS of $6.42, exceeding estimates, along with revenue of $556.86 million, amidst positive market sentiment driven by demand for affordable housing.

Citigroup Inc. raised its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,809 shares of the construction company's stock after purchasing an additional 2,266 shares during the period. Citigroup Inc. owned 0.24% of Cavco Industries worth $10,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Stephens Inc. AR lifted its position in Cavco Industries by 3.8% during the 1st quarter. Stephens Inc. AR now owns 629 shares of the construction company's stock valued at $327,000 after purchasing an additional 23 shares during the period. State of Wyoming increased its stake in shares of Cavco Industries by 0.8% in the 4th quarter. State of Wyoming now owns 3,066 shares of the construction company's stock valued at $1,368,000 after acquiring an additional 24 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Cavco Industries by 3.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 866 shares of the construction company's stock valued at $386,000 after acquiring an additional 30 shares during the last quarter. Ancora Advisors LLC increased its stake in shares of Cavco Industries by 0.4% in the 4th quarter. Ancora Advisors LLC now owns 10,070 shares of the construction company's stock valued at $4,494,000 after acquiring an additional 40 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Cavco Industries by 1.9% in the 1st quarter. Arizona State Retirement System now owns 2,197 shares of the construction company's stock valued at $1,142,000 after acquiring an additional 41 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $483.21, for a total transaction of $966,420.00. Following the completion of the transaction, the director owned 3,126 shares of the company's stock, valued at $1,510,514.46. This represents a 39.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Cavco Industries Stock Performance

NASDAQ CVCO traded down $3.5450 during trading hours on Wednesday, reaching $485.7250. 146,063 shares of the company's stock were exchanged, compared to its average volume of 103,804. Cavco Industries, Inc. has a one year low of $388.68 and a one year high of $549.99. The company's 50-day moving average is $435.27 and its two-hundred day moving average is $477.50. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 21.08 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $524.97 million. Research analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CVCO has been the subject of a number of recent analyst reports. Wedbush reaffirmed a "neutral" rating and issued a $550.00 price target on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen cut Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Cavco Industries currently has an average rating of "Moderate Buy" and an average price target of $522.50.

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.