Robotti Robert Invests $19.90 Million in Cavco Industries, Inc. $CVCO

Key Points

• Robotti Robert purchased 32,396 shares of Cavco Industries in the second quarter, investing approximately $19.90 million. The position represents about 3.2% of its portfolio and 0.42% of Cavco’s outstanding stock.
• Cavco reported quarterly EPS of $5.43, below the $5.69 consensus estimate, while revenue of $609.96 million exceeded expectations. Shares opened at $584.77, with a market capitalization of approximately $4.50 billion.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $700 price target. Recent insider activity was negative, as executives and directors sold a combined 3,442 shares worth about $2.08 million over the past three months.

Robotti Robert bought a new stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,396 shares of the construction company's stock, valued at approximately $19,903,000. Cavco Industries makes up approximately 3.2% of Robotti Robert's investment portfolio, making the stock its 6th biggest position. Robotti Robert owned 0.42% of Cavco Industries at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CVCO. Global Retirement Partners LLC acquired a new position in shares of Cavco Industries in the 2nd quarter valued at $28,000. Aster Capital Management DIFC Ltd acquired a new position in Cavco Industries in the fourth quarter worth about $46,000. Kemnay Advisory Services Inc. acquired a new stake in Cavco Industries during the fourth quarter valued at approximately $50,000. Persistent Asset Partners Ltd bought a new stake in shares of Cavco Industries in the 2nd quarter valued at approximately $52,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Cavco Industries in the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $584.77 on Wednesday. The business has a fifty day moving average of $584.05 and a 200-day moving average of $543.45. Cavco Industries, Inc. has a twelve month low of $443.33 and a twelve month high of $713.01. The firm has a market cap of $4.50 billion, a PE ratio of 25.45 and a beta of 1.29.

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

Insider Activity

In other news, EVP Allison Aden sold 1,473 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $625.00, for a total transaction of $920,625.00. Following the sale, the executive vice president directly owned 9,147 shares of the company's stock, valued at $5,716,875. This represents a 13.87% 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, Director Richard A. Kerley sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total transaction of $294,380.00. Following the completion of the sale, the director directly owned 6,169 shares of the company's stock, valued at approximately $3,632,060.44. This represents a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,442 shares of company stock valued at $2,080,238 over the last three months. 1.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on CVCO shares. UBS Group began coverage on Cavco Industries in a research note on Friday, June 5th. They issued a "buy" rating and a $700.00 price target on the stock. Zacks Research lowered shares of Cavco Industries from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. Zelman & Associates lowered shares of Cavco Industries from an "outperform" rating to a "neutral" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cavco Industries in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $700.00.

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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