Financial Management Professionals Inc. Sells 122 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Financial Management Professionals Inc. lowered its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 35.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224 shares of the construction company’s stock after selling 122 shares during the period. Financial Management Professionals Inc.’s holdings in Cavco Industries were worth $100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Farther Finance Advisors LLC lifted its position in Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after purchasing an additional 82 shares during the period. Avior Wealth Management LLC acquired a new position in Cavco Industries in the third quarter valued at approximately $64,000. Blue Trust Inc. boosted its stake in Cavco Industries by 90.0% in the third quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock valued at $81,000 after acquiring an additional 90 shares during the last quarter. GAMMA Investing LLC grew its holdings in Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after acquiring an additional 64 shares during the period. Finally, Avanza Fonder AB bought a new stake in shares of Cavco Industries during the 4th quarter valued at $211,000. 95.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CVCO shares. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Craig Hallum increased their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Wedbush lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target for the company. in a report on Tuesday, December 3rd.

Insiders Place Their Bets

In related news, CAO Paul Bigbee sold 100 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the sale, the chief accounting officer now directly owns 981 shares in the company, valued at $502,497.63. The trade was a 9.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Julia Sze sold 125 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the transaction, the director now owns 2,861 shares in the company, valued at $1,312,283.48. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,850 shares of company stock valued at $889,417 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $476.84 on Monday. The stock has a market capitalization of $3.87 billion, a PE ratio of 26.96 and a beta of 1.33. The company’s 50-day moving average price is $473.45 and its two-hundred day moving average price is $430.99. Cavco Industries, Inc. has a one year low of $310.46 and a one year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The business had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. During the same period last year, the business earned $4.76 earnings per share. On average, analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Cavco Industries Company 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.