Interval Partners LP Purchases New Stake 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 bought a new position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 hedge funds have also recently modified their holdings of the company. CWM LLC boosted its stake in shares of Cavco Industries by 44.0% in the first quarter. CWM LLC now owns 157 shares of the construction company's stock worth $82,000 after buying an additional 48 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Cavco Industries by 2,850.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company's stock worth $92,000 after purchasing an additional 171 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Cavco Industries during the first quarter worth approximately $112,000. DAVENPORT & Co LLC purchased a new position in Cavco Industries during the first quarter worth approximately $208,000. Finally, GAMMA Investing LLC boosted its position in Cavco Industries by 38.7% during the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock worth $229,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 300 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Blount sold 2,500 shares of the 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 completion of the sale, the director directly owned 3,126 shares of the company's stock, valued at approximately $1,623,331.80. This represents a 44.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,600 shares of company stock valued at $2,820,884. 1.60% of the stock is currently owned by insiders.

Cavco Industries Stock Down 1.7%

Shares of Cavco Industries stock traded down $9.40 during mid-day trading on Friday, reaching $545.84. 170,673 shares of the stock traded hands, compared to its average volume of 150,739. The business has a 50-day moving average of $464.45 and a 200 day moving average of $476.49. Cavco Industries, Inc. has a fifty-two week low of $393.53 and a fifty-two week high of $568.97. The stock has a market capitalization of $4.32 billion, a PE ratio of 23.66 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $6.42 EPS 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 business had revenue of $556.86 million during the quarter, compared to analysts' expectations of $524.97 million. On average, equities research analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVCO. Wedbush reiterated a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research report on Monday, August 4th. Wall Street Zen downgraded Cavco Industries from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.