Interval Partners LP Invests $7.74 Million in Cavco Industries, Inc. $CVCO

Key Points

• Interval Partners LP acquired 14,895 shares of Cavco Industries, Inc. for approximately $7.74 million, representing a 0.18% ownership of the company.
• Insiders at Cavco Industries have sold a total of 5,600 shares worth around $2.82 million over the past 90 days, indicating a significant decrease in their ownership positions.
• Cavco Industries reported earnings of $6.42 per share for the last quarter, exceeding consensus estimates of $5.81, with revenue of $556.86 million compared to projections of $524.97 million.

Interval Partners LP purchased a new position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,895 shares of the construction company's stock, valued at approximately $7,740,000. Interval Partners LP owned about 0.18% of Cavco Industries as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CWM LLC increased its stake in Cavco Industries by 44.0% in the first quarter. CWM LLC now owns 157 shares of the construction company's stock valued at $82,000 after purchasing an additional 48 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Cavco Industries by 2,850.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company's stock valued at $92,000 after purchasing an additional 171 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Cavco Industries in the first quarter valued at $112,000. DAVENPORT & Co LLC acquired a new position in Cavco Industries in the first quarter valued at $208,000. Finally, GAMMA Investing LLC increased its stake in Cavco Industries by 38.7% in the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock valued at $229,000 after purchasing an additional 123 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Stock Performance

Shares of CVCO stock traded down $1.89 during trading hours on Wednesday, reaching $539.85. The company had a trading volume of 96,527 shares, compared to its average volume of 109,086. The company has a market capitalization of $4.28 billion, a P/E ratio of 23.40 and a beta of 1.23. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $568.97. The stock's fifty day simple moving average is $468.47 and its 200 day simple moving average is $477.12.

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CAO Paul Bigbee sold 300 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $530.45, for a total value of $159,135.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the firm'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 value of $240,275.00. Following the completion of the sale, the director directly owned 7,169 shares in the company, valued at approximately $3,445,062.95. This trade represents a 6.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock valued at $2,820,884 in the last quarter. Insiders own 1.60% of the company's stock.

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.