Philadelphia Financial Management of San Francisco LLC Buys Shares of 8,810 Cavco Industries, Inc. $CVCO

Philadelphia Financial Management of San Francisco LLC purchased a new position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,810 shares of the construction company's stock, valued at approximately $5,412,688,000. Philadelphia Financial Management of San Francisco LLC owned about 0.11% of Cavco Industries at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted its stake in shares of Cavco Industries by 13.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company's stock worth $90,000 after buying an additional 18 shares during the period. Sheets Smith Wealth Management grew its holdings in Cavco Industries by 0.9% in the first quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company's stock valued at $1,090,000 after purchasing an additional 20 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Cavco Industries by 12.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company's stock worth $86,000 after acquiring an additional 22 shares during the period. GAMMA Investing LLC lifted its stake in Cavco Industries by 8.6% in the 2nd quarter. GAMMA Investing LLC now owns 415 shares of the construction company's stock valued at $255,000 after buying an additional 33 shares in the last quarter. Finally, Aristides Capital LLC raised its stake in Cavco Industries by 4.6% in the 4th quarter. Aristides Capital LLC now owns 902 shares of the construction company's stock valued at $533,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CVCO shares. Zelman & Associates lowered shares of Cavco Industries from an "outperform" rating to a "neutral" rating in a research note on Thursday, August 6th. UBS Group initiated coverage on shares of Cavco Industries in a research note on Friday, June 5th. They set a "buy" rating and a $700.00 target price for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cavco Industries in a research report on Friday, August 21st. Finally, Zacks Research lowered shares of Cavco Industries from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $700.00.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $577.36 on Thursday. Cavco Industries, Inc. has a 12 month low of $443.33 and a 12 month high of $713.01. The firm has a market capitalization of $4.44 billion, a P/E ratio of 25.12 and a beta of 1.29. The company's fifty day moving average price is $583.42 and its 200 day moving average price is $546.42.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%.The firm had revenue of $609.96 million for the quarter, compared to analysts' expectations of $590.54 million. On average, sell-side analysts anticipate that Cavco Industries, Inc. will post 22.75 EPS for the current year.

Insider Activity

In other news, Director Richard A. Kerley sold 500 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total transaction of $294,380.00. Following the completion of the sale, the director owned 6,169 shares in the company, valued at $3,632,060.44. This represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Paul Bigbee sold 342 shares of Cavco Industries stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $592.00, for a total transaction of $202,464.00. Following the completion of the transaction, the chief accounting officer owned 736 shares in the company, valued at approximately $435,712. This trade represents a 31.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,553 shares of company stock valued at $2,159,368. Company insiders own 1.70% of the company's stock.

Cavco Industries Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.

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