Cavco Industries, Inc. $CVCO Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG decreased its holdings in Cavco Industries by 25.3%, selling 4,770 shares, and now owns approximately 14,048 shares worth $7.3 million.
• Other hedge funds significantly increased their stakes in Cavco Industries, with Victory Capital Management boosting its holding by 103.3% during the same period.
• Analysts have recently downgraded Cavco Industries from a "buy" to a "hold" rating, with target prices ranging around $550.00.

Deutsche Bank AG cut its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 25.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,048 shares of the construction company's stock after selling 4,770 shares during the period. Deutsche Bank AG owned approximately 0.17% of Cavco Industries worth $7,300,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in 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 buying an additional 48 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in Cavco Industries in the first quarter valued at about $208,000. GAMMA Investing LLC increased its holdings in Cavco Industries by 38.7% in 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. ClearAlpha Technologies LP purchased a new position in Cavco Industries in the fourth quarter valued at about $204,000. Finally, SkyOak Wealth LLC purchased a new position in Cavco Industries in the first quarter valued at about $246,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of Cavco Industries stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $483.21, for a total value of $966,420.00. Following the completion of the sale, the director directly owned 3,126 shares of the company's stock, valued at approximately $1,510,514.46. The trade was a 39.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

Cavco Industries Price Performance

CVCO stock traded down $4.16 during midday trading on Wednesday, hitting $485.11. The stock had a trading volume of 254,325 shares, compared to its average volume of 105,626. The firm has a market cap of $3.84 billion, a PE ratio of 21.03 and a beta of 1.15. Cavco Industries, Inc. has a 12-month low of $388.68 and a 12-month high of $549.99. The company's 50-day moving average price is $436.44 and its 200 day moving average price is $477.55.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its earnings results on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, topping the consensus estimate of $5.81 by $0.61. The firm had revenue of $556.86 million during the quarter, compared to analysts' expectations of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. As a group, sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Cavco Industries Company Profile

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.