Man Group plc Purchases New Shares in Cavco Industries, Inc. $CVCO

Man Group plc purchased a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,167 shares of the construction company’s stock, valued at approximately $4,403,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CVCO. Silvant Capital Management LLC purchased a new stake in shares of Cavco Industries in the second quarter valued at about $25,000. Global Retirement Partners LLC purchased a new position in shares of Cavco Industries during the second quarter worth about $28,000. Allworth Financial LP purchased a new position in shares of Cavco Industries during the second quarter worth about $44,000. Aster Capital Management DIFC Ltd acquired a new position in Cavco Industries in the 4th quarter valued at about $46,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Cavco Industries during the 4th quarter valued at approximately $50,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $568.40 on Monday. The company has a market cap of $4.37 billion, a P/E ratio of 24.73 and a beta of 1.29. Cavco Industries, Inc. has a 52 week low of $443.33 and a 52 week high of $713.01. The company has a 50-day moving average price of $582.13 and a 200 day moving average price of $546.75.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.69 by ($0.26). Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%.The business had revenue of $609.96 million for the quarter, compared to analyst estimates of $590.54 million. Analysts expect that Cavco Industries, Inc. will post 22.75 EPS for the current year.

Insider Activity at Cavco Industries

In other Cavco Industries news, CAO Paul Bigbee sold 342 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total value of $202,464.00. Following the completion of the transaction, the chief accounting officer owned 736 shares in the company, valued at approximately $435,712. This represents a 31.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Allison Aden sold 1,473 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $625.00, for a total value of $920,625.00. Following the completion of the sale, the executive vice president directly owned 9,147 shares of the company’s stock, valued at approximately $5,716,875. This trade represents a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,553 shares of company stock worth $2,159,368 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on CVCO shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a research report on Friday, August 21st. Zelman & Associates lowered Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. UBS Group began coverage on Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 price target for the company. Finally, Zacks Research lowered shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $700.00.

Cavco Industries Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.