Vident Advisory LLC Trims Position in Cavco Industries, Inc. $CVCO

Key Points

• Vident Advisory LLC significantly reduced its holdings in Cavco Industries by 81.6%, now owning only 653 shares valued at $339,000 after selling 2,900 shares in Q1.
• Several other institutional investors, including Stephens Inc. AR and HighTower Advisors LLC, increased their stakes in Cavco Industries, with institutional investors collectively owning 95.56% of the stock.
• Recent analyst reports suggest a mixed outlook for Cavco Industries, with Wall Street Zen downgrading its rating from "buy" to "hold" while maintaining a consensus price target of $522.50.

Vident Advisory LLC lowered its position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 81.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 653 shares of the construction company's stock after selling 2,900 shares during the period. Vident Advisory LLC's holdings in Cavco Industries were worth $339,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CWM LLC grew its stake in Cavco Industries by 44.0% during the 1st quarter. CWM LLC now owns 157 shares of the construction company's stock valued at $82,000 after acquiring an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Cavco Industries by 2,850.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company's stock valued at $92,000 after buying an additional 171 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Cavco Industries in the 1st quarter valued at approximately $112,000. DAVENPORT & Co LLC purchased a new position in Cavco Industries in the 1st quarter valued at approximately $208,000. Finally, GAMMA Investing LLC boosted its position in Cavco Industries by 38.7% in the 1st 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 period. Hedge funds and other institutional investors own 95.56% of the company's stock.

Cavco Industries Trading Down 1.7%

Shares of NASDAQ:CVCO traded down $9.23 during midday trading on Friday, hitting $544.99. The stock had a trading volume of 212,007 shares, compared to its average volume of 157,367. The company has a market capitalization of $4.32 billion, a PE ratio of 23.62 and a beta of 1.23. The stock has a 50 day moving average price of $473.78 and a two-hundred day moving average price of $477.48. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $568.97.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its earnings results 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 the consensus estimate of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. As a group, equities analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Ratings Changes

CVCO has been the topic of a number of analyst reports. Wedbush restated a "neutral" rating and issued a $550.00 price objective on shares of Cavco Industries in a report on Monday, August 4th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $522.50.

Insider Buying and Selling

In related news, CAO Paul Bigbee sold 300 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $530.45, for a total transaction of $159,135.00. Following the sale, the chief accounting officer owned 774 shares of the company's stock, valued at approximately $410,568.30. The trade was a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard A. Kerley sold 500 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total transaction of $240,275.00. Following the completion of the sale, the director directly owned 7,169 shares in the company, valued at $3,445,062.95. This trade represents a 6.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,600 shares of company stock valued at $2,820,884. Corporate insiders own 1.60% of the company's stock.

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.