Hunter Perkins Capital Management LLC Raises Stock Holdings in Cavco Industries, Inc. $CVCO

Hunter Perkins Capital Management LLC increased its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 23.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,700 shares of the construction company's stock after purchasing an additional 517 shares during the period. Hunter Perkins Capital Management LLC's holdings in Cavco Industries were worth $1,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in shares of Cavco Industries by 103.3% during the first quarter. Victory Capital Management Inc. now owns 14,953 shares of the construction company's stock worth $7,770,000 after acquiring an additional 7,598 shares during the period. Allspring Global Investments Holdings LLC raised its position in Cavco Industries by 62.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,403 shares of the construction company's stock worth $6,402,000 after acquiring an additional 4,779 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Cavco Industries by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock worth $229,000 after purchasing an additional 123 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Cavco Industries in the first quarter valued at $1,115,000. Finally, Informed Momentum Co LLC purchased a new position in Cavco Industries in the 1st quarter valued at about $4,480,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Susan L. Blount sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $519.30, for a total value of $1,298,250.00. Following the sale, the director directly owned 3,126 shares in the company, valued at $1,623,331.80. The trade was a 44.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard A. Kerley sold 500 shares of the company's 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 completion of the transaction, the director directly owned 7,169 shares in the company, valued at $3,445,062.95. This represents a 6.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,600 shares of company stock worth $2,820,884. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Trading Down 3.1%

CVCO stock opened at $570.43 on Monday. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of 24.73 and a beta of 1.23. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $600.00. The firm's 50-day moving average is $514.21 and its two-hundred day moving average is $482.76.

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVCO shares. Weiss Ratings restated a "buy (b-)" rating on shares of Cavco Industries in a report on Saturday, September 27th. Wedbush restated a "neutral" rating and set a $550.00 target price on shares of Cavco Industries in a report on Monday, August 4th. Finally, Wall Street Zen cut Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $522.50.

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.

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