Walleye Capital LLC Invests $732,000 in Cavco Industries, Inc. $CVCO

Key Points

• Walleye Capital LLC has invested approximately $732,000 in Cavco Industries, purchasing 1,408 shares of the construction company during the first quarter.
• Insider trading activity has been notable, with CAO Paul Bigbee and Director Susan L. Blount selling shares, indicating a 44.44% and 21.83% reduction in their respective ownership.
• Analysts have recently issued mixed ratings for Cavco Industries, with a neutral rating and a target price of $550.00, alongside a consensus target price of $522.50.

Walleye Capital LLC bought a new position in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,408 shares of the construction company's stock, valued at approximately $732,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new stake in Cavco Industries in the first quarter worth approximately $381,000. Northwestern Mutual Wealth Management Co. lifted its position in Cavco Industries by 2,850.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 177 shares of the construction company's stock worth $92,000 after purchasing an additional 171 shares during the period. AlphaQuest LLC lifted its position in Cavco Industries by 160.5% in the first quarter. AlphaQuest LLC now owns 2,430 shares of the construction company's stock worth $1,263,000 after purchasing an additional 1,497 shares during the period. Ameriprise Financial Inc. lifted its position in Cavco Industries by 64.0% in the first quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company's stock worth $80,940,000 after purchasing an additional 60,779 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Cavco Industries by 1.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 100,949 shares of the construction company's stock worth $52,457,000 after purchasing an additional 1,298 shares during the period. 95.56% of the stock is currently owned by institutional investors and hedge funds.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO traded up $19.22 during trading on Thursday, hitting $552.82. The company had a trading volume of 242,998 shares, compared to its average volume of 107,644. The company has a market cap of $4.38 billion, a P/E ratio of 23.96 and a beta of 1.23. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $552.85. The business's 50-day moving average is $459.53 and its 200 day moving average is $477.09.

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

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan L. Blount sold 2,500 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the sale, the director directly owned 3,126 shares in the company, valued at approximately $1,623,331.80. This trade represents a 44.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,600 shares of company stock valued at $2,820,884 in the last three months. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.