ProShare Advisors LLC Purchases 747 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

ProShare Advisors LLC increased its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 42.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,492 shares of the construction company's stock after acquiring an additional 747 shares during the quarter. ProShare Advisors LLC's holdings in Cavco Industries were worth $1,112,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of CVCO. Harvest Fund Management Co. Ltd acquired a new position in Cavco Industries in the 4th quarter valued at $67,000. Smartleaf Asset Management LLC grew its holdings in shares of Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock worth $72,000 after purchasing an additional 128 shares in the last quarter. Blue Trust Inc. increased its position in shares of Cavco Industries by 28.9% in the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after purchasing an additional 55 shares during the period. KBC Group NV raised its stake in Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company's stock valued at $147,000 after purchasing an additional 86 shares in the last quarter. Finally, ClearAlpha Technologies LP acquired a new position in Cavco Industries in the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Insider Activity

In other news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the completion of the transaction, the director now directly owns 15,286 shares in the company, valued at approximately $8,084,459.68. This represents a 20.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Stock Down 2.4%

Shares of CVCO traded down $10.90 during midday trading on Wednesday, hitting $445.81. The company's stock had a trading volume of 46,949 shares, compared to its average volume of 65,150. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $549.99. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 21.94 and a beta of 1.29. The company's fifty day simple moving average is $498.55 and its two-hundred day simple moving average is $494.15.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVCO shares. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Wedbush reiterated a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research report on Tuesday.

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.