Informed Momentum Co LLC Takes Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Key Points

• Informed Momentum Co LLC acquired a new position in Cavco Industries, purchasing 8,621 shares for approximately $4.48 million, marking it as the 24th largest holding in their portfolio.
• Cavco Industries recently announced a quarterly earnings report showing $6.42 earnings per share, exceeding estimates, with revenue of $556.86 million for the quarter.
• Institutional investors hold 95.56% of Cavco Industries' stock, indicating strong institutional support for the company's market position.

Informed Momentum Co LLC acquired a new position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,621 shares of the construction company's stock, valued at approximately $4,480,000. Cavco Industries makes up 0.8% of Informed Momentum Co LLC's holdings, making the stock its 24th biggest holding. Informed Momentum Co LLC owned 0.11% of Cavco Industries at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CVCO. GAMMA Investing LLC raised its stake in shares of Cavco Industries by 71,961.9% in the 1st quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock valued at $119,077,000 after purchasing an additional 228,839 shares in the last quarter. FMR LLC raised its stake in shares of Cavco Industries by 118.8% in the 4th quarter. FMR LLC now owns 296,343 shares of the construction company's stock valued at $132,237,000 after purchasing an additional 160,899 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Cavco Industries by 1,030.9% in the 4th quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company's stock valued at $32,371,000 after purchasing an additional 66,120 shares in the last quarter. Vanguard Group Inc. raised its stake in Cavco Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company's stock worth $402,631,000 after acquiring an additional 37,249 shares during the period. Finally, Invesco Ltd. raised its stake in 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 acquiring an additional 28,730 shares during the period. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Trading Down 0.6%

CVCO stock traded down $3.13 on Friday, hitting $480.22. 93,119 shares of the company's stock traded hands, compared to its average volume of 106,836. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 20.82 and a beta of 1.15. Cavco Industries, Inc. has a 1-year low of $384.46 and a 1-year high of $549.99. The stock has a fifty day moving average of $432.90 and a 200-day moving average of $477.51.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 earnings per share for the quarter, topping the consensus estimate of $5.81 by $0.61. The firm 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%. On average, equities research analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CVCO has been the topic of several research reports. Wedbush reiterated a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

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.