Trexquant Investment LP Makes New Investment in Cavco Industries, Inc. $CVCO

Key Points

• Trexquant Investment LP has acquired 5,906 shares of Cavco Industries, valued at approximately $3,069,000, increasing its stake to about 0.07% of the company.
• Cavco Industries has received mixed ratings from analysts, with one rating it a "buy" while another downgraded it to a "hold," resulting in an average rating of "Moderate Buy" and a consensus price target of $522.50.
• Insider transactions show significant selling activity, including a director selling 2,500 shares for over $1.29 million, indicating a 44.44% decrease in their ownership position.

Trexquant Investment LP purchased a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,906 shares of the construction company's stock, valued at approximately $3,069,000. Trexquant Investment LP owned approximately 0.07% of Cavco Industries as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. CWM LLC raised its position in Cavco Industries by 44.0% during the first quarter. CWM LLC now owns 157 shares of the construction company's stock valued at $82,000 after purchasing an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Cavco Industries by 2,850.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company's stock valued at $92,000 after purchasing an additional 171 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Cavco Industries during the first quarter valued at about $112,000. DAVENPORT & Co LLC purchased a new stake in Cavco Industries during the first quarter valued at about $208,000. Finally, GAMMA Investing LLC grew its stake in shares of Cavco Industries by 38.7% during the first quarter. GAMMA Investing LLC now owns 441 shares of the construction company's stock valued at $229,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Insider Buying and Selling at Cavco Industries

In related news, Director Susan L. Blount sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $519.30, for a total value of $1,298,250.00. Following the completion of the transaction, the director directly owned 3,126 shares in the company, valued at $1,623,331.80. The trade was a 44.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard A. Kerley sold 500 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $480.55, for a total transaction of $240,275.00. Following the completion of the transaction, the director owned 7,169 shares of the company's stock, valued at approximately $3,445,062.95. The trade was a 6.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,600 shares of company stock valued at $2,820,884. 1.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CVCO. Wedbush reaffirmed a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen cut 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 has an average rating of "Moderate Buy" and a consensus price target of $522.50.

Cavco Industries Trading Down 1.7%

Cavco Industries stock traded down $9.40 during trading hours on Friday, hitting $545.84. 170,673 shares of the stock traded hands, compared to its average volume of 145,288. The firm's 50-day moving average price is $464.45 and its two-hundred day moving average price is $476.86. The company has a market cap of $4.32 billion, a PE ratio of 23.66 and a beta of 1.23. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $568.97.

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