Squarepoint Ops LLC Takes $267,000 Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Squarepoint Ops LLC purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 598 shares of the construction company's stock, valued at approximately $267,000.

Other hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new stake in Cavco Industries during the 4th quarter worth $67,000. Smartleaf Asset Management LLC boosted its stake in shares of Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company's stock worth $72,000 after buying an additional 128 shares during the period. ClearAlpha Technologies LP acquired a new stake in shares of Cavco Industries during the fourth quarter worth about $204,000. New Age Alpha Advisors LLC purchased a new position in shares of Cavco Industries during the fourth quarter worth about $215,000. Finally, Tower Research Capital LLC TRC increased its position in Cavco Industries by 58.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 490 shares of the construction company's stock valued at $219,000 after acquiring an additional 181 shares during the period. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on CVCO. Wall Street Zen cut Cavco Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Wedbush restated a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research note on Tuesday, May 27th.

Cavco Industries Trading Down 0.8%

Shares of NASDAQ:CVCO traded down $3.40 during midday trading on Monday, hitting $425.23. The stock had a trading volume of 244,260 shares, compared to its average volume of 69,619. Cavco Industries, Inc. has a 1 year low of $331.08 and a 1 year high of $549.99. The stock has a 50 day moving average price of $483.74 and a two-hundred day moving average price of $491.88. The company has a market capitalization of $3.41 billion, a PE ratio of 20.93 and a beta of 1.16.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data 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. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. The company had revenue of $508.36 million for the quarter, compared to analyst estimates of $504.15 million. As a group, equities analysts expect 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.