Ieq Capital LLC Makes New Investment in Cavco Industries, Inc. $CVCO

Key Points

• Ieq Capital LLC made a new investment in Cavco Industries, acquiring 466 shares worth approximately $242,000 in the first quarter.
• Cavco Industries experienced significant increases in holdings from other institutional investors, with 95.56% of its stock owned by hedge funds and institutions.
• Insider transactions included a director selling 500 shares for $240,275, reflecting a 6.52% decrease in their ownership.

Ieq Capital LLC acquired a new stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 466 shares of the construction company's stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Aristides Capital LLC lifted its position in Cavco Industries by 47.4% in the 1st quarter. Aristides Capital LLC now owns 1,651 shares of the construction company's stock valued at $858,000 after acquiring an additional 531 shares in the last quarter. Rafferty Asset Management LLC lifted its position in Cavco Industries by 4.0% in the 1st quarter. Rafferty Asset Management LLC now owns 5,703 shares of the construction company's stock valued at $2,963,000 after acquiring an additional 220 shares in the last quarter. Walleye Capital LLC bought a new position in Cavco Industries in the 1st quarter valued at approximately $732,000. Jump Financial LLC bought a new position in Cavco Industries in the 1st quarter valued at approximately $381,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Cavco Industries by 2,850.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company's stock valued at $92,000 after acquiring an additional 171 shares in the last quarter. 95.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Cavco Industries Stock Down 1.7%

CVCO traded down $9.23 during mid-day trading on Friday, reaching $544.99. 212,007 shares of the company traded hands, compared to its average volume of 157,367. The stock has a market capitalization of $4.32 billion, a P/E ratio of 23.62 and a beta of 1.23. The company's fifty day moving average price is $473.78 and its 200-day moving average price is $477.85. Cavco Industries, Inc. has a 52-week low of $393.53 and a 52-week high of $568.97.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, topping the consensus estimate of $5.81 by $0.61. The firm had revenue of $556.86 million during the quarter, compared to analyst estimates of $524.97 million. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%. As a group, sell-side analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total transaction of $240,275.00. Following the completion of the transaction, the director directly owned 7,169 shares in the company, valued at approximately $3,445,062.95. The trade was a 6.52% decrease in their position. 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 transaction, the chief accounting officer owned 774 shares of the company's stock, valued at approximately $410,568.30. This trade represents a 27.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,600 shares of company stock worth $2,820,884. 1.60% of the stock is owned by company insiders.

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.