Cavco Industries, Inc. $CVCO Shares Bought 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. increased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 16.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,547 shares of the construction company's stock after purchasing an additional 1,236 shares during the period. Sei Investments Co. owned approximately 0.11% of Cavco Industries worth $4,441,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Cavco Industries by 44.0% during the first quarter. CWM LLC now owns 157 shares of the construction company's stock worth $82,000 after purchasing an additional 48 shares in the last quarter. ClearAlpha Technologies LP purchased a new stake in shares of Cavco Industries in the 4th quarter valued at $204,000. DAVENPORT & Co LLC purchased a new stake in shares of Cavco Industries in the 1st quarter valued at $208,000. Tower Research Capital LLC TRC lifted its stake in Cavco Industries by 58.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company's stock worth $219,000 after acquiring an additional 181 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Cavco Industries by 38.7% during the 1st quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock valued at $229,000 after acquiring an additional 123 shares during the period. Institutional investors and hedge funds own 95.56% of the company's stock.

Insider Transactions at Cavco Industries

In other Cavco Industries news, Director Susan L. Blount sold 2,000 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $483.21, for a total transaction of $966,420.00. Following the completion of the transaction, the director owned 3,126 shares in the company, valued at $1,510,514.46. The trade was a 39.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wedbush reaffirmed a "neutral" rating and issued a $550.00 target price on shares of Cavco Industries in a research report on Monday, August 4th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $522.50.

Cavco Industries Stock Down 0.9%

NASDAQ CVCO traded down $4.16 during trading hours on Wednesday, hitting $485.11. 254,325 shares of the company were exchanged, compared to its average volume of 105,626. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 21.03 and a beta of 1.15. The company has a 50 day moving average of $436.44 and a two-hundred day moving average of $477.55. Cavco Industries, Inc. has a 52-week low of $388.68 and a 52-week high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, topping 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 the consensus estimate of $524.97 million. On average, equities research analysts predict that Cavco Industries, Inc. will post 21.93 EPS for the current year.

About Cavco Industries

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.