GSA Capital Partners LLP Takes Position in Cavco Industries, Inc. $CVCO

Key Points

• GSA Capital Partners initiated a position in Cavco Industries, purchasing 3,047 shares valued at approximately $1.87 million. Institutional investors collectively own 95.56% of the company.
• Cavco reported quarterly revenue of $609.96 million, exceeding estimates, but earnings per share of $5.43 fell short of the $5.69 consensus forecast. Analysts expect $22.75 in full-year EPS.
• Analyst sentiment is mixed, with recent downgrades from Zacks Research and Zelman & Associates; the stock carries a consensus “Hold” rating and an average price target of $700, compared with a recent price of $605.05.

GSA Capital Partners LLP purchased a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,047 shares of the construction company's stock, valued at approximately $1,872,000.

Other large investors have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in Cavco Industries by 13.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company's stock valued at $90,000 after purchasing an additional 18 shares during the period. Sheets Smith Wealth Management grew its position in Cavco Industries by 0.9% in the 1st quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company's stock worth $1,090,000 after purchasing an additional 20 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company's stock valued at $86,000 after purchasing an additional 22 shares during the period. GAMMA Investing LLC increased its stake in shares of Cavco Industries by 8.6% in the second quarter. GAMMA Investing LLC now owns 415 shares of the construction company's stock valued at $255,000 after purchasing an additional 33 shares during the period. Finally, Aristides Capital LLC raised its holdings in shares of Cavco Industries by 4.6% during the fourth quarter. Aristides Capital LLC now owns 902 shares of the construction company's stock valued at $533,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Insider Activity at Cavco Industries

In related news, EVP Allison Aden sold 1,473 shares of the business's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total transaction of $920,625.00. Following the sale, the executive vice president owned 9,147 shares of the company's stock, valued at $5,716,875. The trade was a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard A. Kerley sold 500 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total value of $294,380.00. Following the completion of the sale, the director owned 6,169 shares of the company's stock, valued at $3,632,060.44. This trade represents a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,442 shares of company stock worth $2,080,238 over the last quarter. 1.70% of the stock is currently owned by company insiders.

Cavco Industries Stock Performance

Cavco Industries stock opened at $605.05 on Monday. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 26.33 and a beta of 1.29. The company's 50-day moving average price is $583.18 and its two-hundred day moving average price is $543.91. Cavco Industries, Inc. has a 52 week low of $443.33 and a 52 week high of $713.01.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing analysts' consensus estimates of $5.69 by ($0.26). The company had revenue of $609.96 million for the quarter, compared to the consensus estimate of $590.54 million. Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%. Research analysts expect that Cavco Industries, Inc. will post 22.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

CVCO has been the subject of several analyst reports. Zacks Research downgraded Cavco Industries from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. UBS Group initiated coverage on Cavco Industries in a research note on Friday, June 5th. They set a "buy" rating and a $700.00 target price on the stock. Zelman & Associates downgraded Cavco Industries from an "outperform" rating to a "neutral" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Cavco Industries in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cavco Industries has a consensus rating of "Hold" and an average price target of $700.00.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.

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