Vident Advisory LLC Cuts Stock Holdings 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 cut its holdings in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 81.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 reporting period.

A number of other large investors have also recently made changes to their positions in the business. Stephens Inc. AR increased its holdings in shares of Cavco Industries by 3.8% in the 1st quarter. Stephens Inc. AR now owns 629 shares of the construction company's stock worth $327,000 after buying an additional 23 shares during the last quarter. State of Wyoming increased its holdings in shares of Cavco Industries by 0.8% in the 4th quarter. State of Wyoming now owns 3,066 shares of the construction company's stock worth $1,368,000 after buying an additional 24 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Cavco Industries by 2.6% in the 1st quarter. HighTower Advisors LLC now owns 1,571 shares of the construction company's stock worth $816,000 after buying an additional 40 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Cavco Industries by 7.5% in the 1st quarter. Evergreen Capital Management LLC now owns 573 shares of the construction company's stock worth $298,000 after buying an additional 40 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Cavco Industries by 1.9% in the 1st quarter. Arizona State Retirement System now owns 2,197 shares of the construction company's stock worth $1,142,000 after buying an additional 41 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Paul Bigbee sold 300 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $530.45, for a total transaction of $159,135.00. Following the completion of the sale, the chief accounting officer owned 774 shares of the company's stock, valued at $410,568.30. This represents 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 through this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the company's stock in a transaction 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 sale, the director directly owned 7,169 shares of the company's stock, valued at $3,445,062.95. The trade was a 6.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,600 shares of company stock worth $2,820,884. Company insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

CVCO has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Wedbush reissued a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $522.50.

Cavco Industries Trading Up 0.1%

NASDAQ:CVCO opened at $546.19 on Tuesday. The company has a market cap of $4.33 billion, a PE ratio of 23.68 and a beta of 1.23. Cavco Industries, Inc. has a twelve month low of $393.53 and a twelve month high of $568.97. The company's 50 day moving average is $466.69 and its two-hundred day moving average is $476.67.

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

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