Rafferty Asset Management LLC Has $2.45 Million Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Rafferty Asset Management LLC boosted its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 49.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,483 shares of the construction company's stock after acquiring an additional 1,802 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.07% of Cavco Industries worth $2,447,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new stake in Cavco Industries during the 4th quarter worth about $67,000. Smartleaf Asset Management LLC grew its holdings in 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 acquiring an additional 128 shares during the last quarter. Blue Trust Inc. grew its holdings in Cavco Industries by 28.9% during the 4th 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 lifted its position in Cavco Industries by 35.2% during the 4th quarter. KBC Group NV now owns 330 shares of the construction company's stock valued at $147,000 after purchasing an additional 86 shares during the period. Finally, ClearAlpha Technologies LP bought a new position in shares of Cavco Industries in the 4th quarter valued at about $204,000. Institutional investors own 95.56% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CVCO. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Wedbush reaffirmed a "neutral" rating and issued a $550.00 target price (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Insider Activity at Cavco Industries

In other news, Director David A. Greenblatt sold 4,000 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 15,286 shares of the company's stock, valued at $8,084,459.68. This trade represents a 20.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Cavco Industries Price Performance

Shares of NASDAQ CVCO traded down $26.44 during mid-day trading on Friday, hitting $472.79. The company's stock had a trading volume of 173,331 shares, compared to its average volume of 64,757. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 23.27 and a beta of 1.29. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $549.99. The company's fifty day simple moving average is $500.91 and its 200-day simple moving average is $494.43.

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. The business had revenue of $508.36 million for the quarter, compared to the consensus estimate of $504.15 million. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. On average, sell-side analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

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.