Vident Advisory LLC Buys 3,026 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Vident Advisory LLC raised its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 574.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,553 shares of the construction company's stock after purchasing an additional 3,026 shares during the quarter. Vident Advisory LLC's holdings in Cavco Industries were worth $1,585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its stake in Cavco Industries by 118.8% in the 4th quarter. FMR LLC now owns 296,343 shares of the construction company's stock worth $132,237,000 after buying an additional 160,899 shares during the period. Geode Capital Management LLC lifted its position in Cavco Industries by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company's stock valued at $101,324,000 after buying an additional 2,640 shares during the last quarter. Boston Trust Walden Corp increased its stake in Cavco Industries by 0.3% during the fourth quarter. Boston Trust Walden Corp now owns 193,895 shares of the construction company's stock worth $86,522,000 after purchasing an additional 614 shares during the period. GW&K Investment Management LLC increased its stake in shares of Cavco Industries by 1.0% during the fourth quarter. GW&K Investment Management LLC now owns 188,715 shares of the construction company's stock worth $84,210,000 after buying an additional 1,931 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Cavco Industries by 18.7% during the fourth quarter. Invesco Ltd. now owns 182,457 shares of the construction company's stock worth $81,418,000 after buying an additional 28,730 shares during the period. Hedge funds and other institutional investors own 95.56% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVCO. Wedbush reissued a "neutral" rating and issued a $550.00 price objective on shares of Cavco Industries in a report on Tuesday. Wall Street Zen downgraded Cavco Industries from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO traded down $10.29 during trading hours on Wednesday, hitting $446.42. 52,145 shares of the company's stock traded hands, compared to its average volume of 65,172. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 22.02 and a beta of 1.29. The company's fifty day simple moving average is $498.55 and its two-hundred day simple moving average is $494.15. Cavco Industries, Inc. has a 52 week low of $331.08 and a 52 week high of $549.99.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its earnings results on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, beating the consensus estimate of $5.23 by $0.17. The company had revenue of $508.36 million for the quarter, compared to the consensus estimate of $504.15 million. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. On average, analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Insider Activity

In related news, Director David A. Greenblatt sold 4,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the sale, the director now owns 15,286 shares of the company's stock, valued at $8,084,459.68. This represents a 20.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

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.