Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Man Group plc

Man Group plc decreased its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,708 shares of the construction company's stock after selling 928 shares during the period. Man Group plc owned approximately 0.08% of Cavco Industries worth $2,993,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CVCO. Harvest Fund Management Co. Ltd purchased a new position in Cavco Industries in the 4th quarter valued at about $67,000. Smartleaf Asset Management LLC lifted its stake in shares of Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock valued at $72,000 after buying an additional 128 shares during the period. Blue Trust Inc. boosted its position in Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after acquiring an additional 55 shares during the last quarter. KBC Group NV grew its stake in Cavco Industries by 35.2% in the 4th quarter. KBC Group NV now owns 330 shares of the construction company's stock worth $147,000 after acquiring an additional 86 shares during the period. Finally, ClearAlpha Technologies LP acquired a new position in Cavco Industries in the 4th quarter valued at $204,000. Hedge funds and other institutional investors own 95.56% of the company's stock.

Insider Activity

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the transaction, the director now directly owns 15,286 shares in the company, valued at $8,084,459.68. This represents a 20.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.60% of the company's stock.

Cavco Industries Stock Down 2.4%

Shares of NASDAQ CVCO traded down $10.90 during trading on Wednesday, hitting $445.81. 46,949 shares of the company traded hands, compared to its average volume of 65,150. The firm has a market capitalization of $3.61 billion, a P/E ratio of 21.94 and a beta of 1.29. The company has a 50-day moving average price of $498.55 and a 200-day moving average price of $494.15. Cavco Industries, Inc. has a 1 year low of $331.08 and a 1 year high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The construction company reported $5.40 earnings per share for the quarter, beating analysts' consensus estimates of $5.23 by $0.17. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. The firm had revenue of $508.36 million for the quarter, compared to analysts' expectations of $504.15 million. Research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Wedbush restated a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a report on Tuesday. Wall Street Zen cut Cavco Industries from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.

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.