Gamco Investors INC. ET AL Sells 14,132 Shares of Cavco Industries, Inc. $CVCO

Key Points

• Gamco Investors INC. ET AL has decreased its stake in Cavco Industries by 12.2%, dropping to 102,020 shares and holding approximately 1.26% of the company.
• Cavco Industries reported earnings of $6.42 per share for the last quarter, exceeding analyst expectations of $5.81 and showing significant revenue growth.
• Several large investors, including CWM LLC and Northwestern Mutual Wealth Management Co., increased their positions in Cavco Industries, reflecting strong institutional interest in the stock.

Gamco Investors INC. ET AL trimmed its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 12.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 102,020 shares of the construction company's stock after selling 14,132 shares during the period. Gamco Investors INC. ET AL owned 1.26% of Cavco Industries worth $53,013,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Aristides Capital LLC increased its holdings in Cavco Industries by 47.4% in the first quarter. Aristides Capital LLC now owns 1,651 shares of the construction company's stock valued at $858,000 after purchasing an additional 531 shares during the period. Rafferty Asset Management LLC increased its holdings in Cavco Industries by 4.0% in the first quarter. Rafferty Asset Management LLC now owns 5,703 shares of the construction company's stock valued at $2,963,000 after purchasing an additional 220 shares during the period. Walleye Capital LLC acquired a new stake in Cavco Industries in the first quarter valued at $732,000. Jump Financial LLC acquired a new stake in Cavco Industries in the first quarter valued at $381,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Cavco Industries by 2,850.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company's stock valued at $92,000 after purchasing an additional 171 shares during the period. 95.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wedbush restated a "neutral" rating and issued a $550.00 price objective on shares of Cavco Industries in a report on Monday, August 4th. Wall Street Zen downgraded 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $522.50.

Cavco Industries Stock Performance

CVCO stock traded up $0.60 during midday trading on Thursday, reaching $530.38. 128,795 shares of the company's stock traded hands, compared to its average volume of 138,244. The company has a 50-day moving average price of $450.16 and a two-hundred day moving average price of $477.16. Cavco Industries, Inc. has a 52 week low of $390.46 and a 52 week high of $549.99. The firm has a market capitalization of $4.20 billion, a PE ratio of 22.99 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.81 by $0.61. The business had revenue of $556.86 million for 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, analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Cavco Industries news, CAO Paul Bigbee sold 300 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $522.68, for a total transaction of $156,804.00. Following the completion of the sale, the chief accounting officer directly owned 1,074 shares in the company, valued at $561,358.32. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Susan L. Blount sold 2,500 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the sale, the director owned 3,126 shares of the company's stock, valued at approximately $1,623,331.80. The trade was a 44.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,300 shares of company stock worth $2,661,749. Corporate insiders own 1.60% of the company's stock.

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.