Nicholas Investment Partners LP Sells 20,239 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Nicholas Investment Partners LP cut its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 90.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,059 shares of the construction company's stock after selling 20,239 shares during the period. Nicholas Investment Partners LP's holdings in Cavco Industries were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Summit Investment Advisors Inc. grew its holdings in shares of Cavco Industries by 3.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 866 shares of the construction company's stock worth $386,000 after buying an additional 30 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of Cavco Industries by 0.4% during the 4th quarter. Ancora Advisors LLC now owns 10,070 shares of the construction company's stock worth $4,494,000 after acquiring an additional 40 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Cavco Industries by 3.6% in the fourth quarter. Captrust Financial Advisors now owns 1,329 shares of the construction company's stock worth $593,000 after purchasing an additional 46 shares in the last quarter. Xponance Inc. lifted its position in shares of Cavco Industries by 9.4% in the fourth quarter. Xponance Inc. now owns 596 shares of the construction company's stock worth $266,000 after purchasing an additional 51 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company's stock worth $105,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 95.56% of the company's stock.

Cavco Industries Stock Down 0.8%

Shares of NASDAQ:CVCO traded down $3.99 during midday trading on Tuesday, hitting $513.89. The stock had a trading volume of 18,681 shares, compared to its average volume of 64,103. The company has a market cap of $4.17 billion, a P/E ratio of 25.34 and a beta of 1.29. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $549.99. The business's 50-day simple moving average is $500.86 and its 200-day simple moving average is $493.14.

Insider Activity

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 shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the transaction, the director now directly owns 15,286 shares of the company's stock, 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 SEC, which is available through this hyperlink. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CVCO. Wedbush reiterated a "neutral" rating and issued a $550.00 price target (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com lowered Cavco Industries from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.

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.