Freestone Grove Partners LP Takes Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Freestone Grove Partners LP acquired a new stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,727 shares of the construction company's stock, valued at approximately $771,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of Cavco Industries by 162.0% in the 3rd quarter. Barclays PLC now owns 17,234 shares of the construction company's stock worth $7,381,000 after buying an additional 10,656 shares in the last quarter. Virtu Financial LLC purchased a new position in Cavco Industries during the third quarter worth $637,000. JPMorgan Chase & Co. raised its stake in shares of Cavco Industries by 55.3% in the third quarter. JPMorgan Chase & Co. now owns 35,887 shares of the construction company's stock valued at $15,368,000 after acquiring an additional 12,780 shares during the period. GAMMA Investing LLC boosted its stake in shares of Cavco Industries by 15.2% during the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company's stock worth $142,000 after purchasing an additional 42 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Cavco Industries by 2.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 23,041 shares of the construction company's stock valued at $10,282,000 after buying an additional 642 shares during the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Stock Performance

NASDAQ CVCO traded down $2.04 during trading hours on Friday, reaching $525.00. The stock had a trading volume of 11,953 shares, compared to its average volume of 64,143. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08. The stock has a fifty day moving average of $499.88 and a 200 day moving average of $486.92. The stock has a market cap of $4.26 billion, a P/E ratio of 25.84 and a beta of 1.29.

Analyst Ratings Changes

CVCO has been the topic of several recent analyst reports. StockNews.com raised shares of Cavco Industries from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Wedbush reaffirmed a "neutral" rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

Insiders Place Their Bets

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of Cavco Industries stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the sale, the director now owns 15,286 shares in the company, valued at $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company's stock.

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.