First Sabrepoint Capital Management LP Boosts Stock Position in Cavco Industries, Inc. $CVCO

Key Points

• First Sabrepoint Capital Management LP increased its stake in Cavco Industries by 17.6% in the first quarter, now holding 15,000 shares valued at approximately $7.79 million.
• Several large investors, including CWM LLC and Northwestern Mutual Wealth Management, significantly raised their positions in Cavco Industries during the same period, with institutional investors collectively owning 95.56% of the stock.
• Analysts have mixed ratings for Cavco Industries with a consensus of "Moderate Buy," and a recent price target set at $522.50, following the firm’s strong quarterly earnings report.

First Sabrepoint Capital Management LP raised its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,000 shares of the construction company's stock after purchasing an additional 2,250 shares during the period. Cavco Industries makes up about 2.9% of First Sabrepoint Capital Management LP's investment portfolio, making the stock its 14th biggest holding. First Sabrepoint Capital Management LP owned about 0.19% of Cavco Industries worth $7,794,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Victory Capital Management Inc. lifted its position in Cavco Industries by 103.3% during the 1st quarter. Victory Capital Management Inc. now owns 14,953 shares of the construction company's stock worth $7,770,000 after buying an additional 7,598 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Cavco Industries by 62.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,403 shares of the construction company's stock valued at $6,402,000 after acquiring an additional 4,779 shares during the period. 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 worth $229,000 after buying an additional 123 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Cavco Industries in the 1st quarter valued at approximately $1,115,000. Finally, Informed Momentum Co LLC acquired a new position in shares of Cavco Industries during the 1st quarter worth $4,480,000. 95.56% of the stock is owned by institutional investors.

Cavco Industries Stock Up 1.7%

Shares of Cavco Industries stock traded up $8.89 during trading on Wednesday, hitting $533.60. 172,397 shares of the stock traded hands, compared to its average volume of 129,250. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 22.10 and a beta of 1.23. The firm's fifty day moving average is $459.53 and its 200-day moving average is $477.09. Cavco Industries, Inc. has a 52 week low of $390.46 and a 52 week high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, beating analysts' consensus estimates of $5.81 by $0.61. The firm had revenue of $556.86 million for the quarter, compared to analyst estimates of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. On average, analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wedbush reissued a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a report on Monday, August 4th. Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $522.50.

Insider Activity

In other news, Director Richard A. Kerley sold 500 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total value of $240,275.00. Following the sale, the director owned 7,169 shares of the company's stock, valued at approximately $3,445,062.95. This represents a 6.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Paul Bigbee sold 300 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $530.45, for a total value of $159,135.00. Following the completion of the sale, the chief accounting officer owned 774 shares of the company's stock, valued at $410,568.30. The trade was a 27.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,600 shares of company stock valued at $2,820,884 in the last 90 days. Company insiders own 1.60% of the company's stock.

Cavco Industries 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.