GAMMA Investing LLC Purchases 228,839 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

GAMMA Investing LLC raised its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 71,961.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 229,157 shares of the construction company's stock after buying an additional 228,839 shares during the quarter. GAMMA Investing LLC owned about 2.83% of Cavco Industries worth $119,077,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Cavco Industries by 118.8% during the fourth quarter. FMR LLC now owns 296,343 shares of the construction company's stock worth $132,237,000 after buying an additional 160,899 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Cavco Industries by 1,030.9% during the fourth quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company's stock worth $32,371,000 after buying an additional 66,120 shares in the last quarter. Loomis Sayles & Co. L P bought a new position in shares of Cavco Industries during the fourth quarter worth about $20,382,000. Norges Bank bought a new position in shares of Cavco Industries during the fourth quarter worth about $17,730,000. Finally, Invesco Ltd. grew its holdings in shares of Cavco Industries by 18.7% during the fourth quarter. Invesco Ltd. now owns 182,457 shares of the construction company's stock worth $81,418,000 after buying an additional 28,730 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

Cavco Industries Stock Down 0.3%

Shares of NASDAQ:CVCO traded down $1.13 during midday trading on Thursday, hitting $425.53. The stock had a trading volume of 14,802 shares, compared to its average volume of 65,919. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $549.99. The business's 50-day simple moving average is $487.40 and its 200-day simple moving average is $492.37. The company has a market cap of $3.41 billion, a P/E ratio of 20.94 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.17. The business had revenue of $508.36 million during the quarter, compared to analysts' expectations of $504.15 million. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. As a group, equities analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CVCO shares. Wedbush reiterated a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a report on Tuesday, May 27th. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th.

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.