Cavco Industries, Inc. $CVCO Shares Purchased by Sei Investments Co.

Key Points

• Sei Investments Co. increased its stake in Cavco Industries by 16.9%, owning approximately 8,547 shares worth $4.44 million as of the end of the first quarter.
• During the same period, several other institutional investors significantly boosted their holdings, with Victory Capital Management Inc. raising its stake by 103.3%.
• Cavco Industries reported $6.42 earnings per share for the last quarter, surpassing estimates, and boasts a market cap of $3.83 billion.

Sei Investments Co. lifted its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,547 shares of the construction company's stock after purchasing an additional 1,236 shares during the period. Sei Investments Co. owned about 0.11% of Cavco Industries worth $4,441,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Cavco Industries by 103.3% in the 1st quarter. Victory Capital Management Inc. now owns 14,953 shares of the construction company's stock valued at $7,770,000 after purchasing an additional 7,598 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Cavco Industries by 62.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,403 shares of the construction company's stock worth $6,402,000 after buying an additional 4,779 shares in the last quarter. GAMMA Investing LLC increased its stake in Cavco Industries by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock worth $229,000 after buying an additional 123 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Cavco Industries during the 1st quarter worth approximately $1,115,000. Finally, Informed Momentum Co LLC purchased a new stake in Cavco Industries during the 1st quarter worth approximately $4,480,000. Hedge funds and other institutional investors own 95.56% of the company's stock.

Insider Buying and Selling

In related news, Director Susan L. Blount sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $483.21, for a total value of $966,420.00. Following the transaction, the director directly owned 3,126 shares in the company, valued at approximately $1,510,514.46. This represents a 39.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVCO shares. Wall Street Zen lowered Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Wedbush reiterated a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $522.50.

Cavco Industries Stock Performance

Shares of CVCO stock traded down $3.5750 during trading hours on Wednesday, reaching $485.6950. The company had a trading volume of 108,463 shares, compared to its average volume of 103,415. The stock has a fifty day moving average of $435.27 and a 200-day moving average of $477.50. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 21.06 and a beta of 1.15. Cavco Industries, Inc. has a 12-month low of $388.68 and a 12-month high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.81 by $0.61. Cavco Industries had a return on equity of 18.52% and a net margin of 8.99%.The business had revenue of $556.86 million during the quarter, compared to analyst estimates of $524.97 million. On average, analysts forecast that Cavco Industries, Inc. will post 21.93 EPS for the current year.

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.