GSA Capital Partners LLP Acquires Shares of 1,493 Cavco Industries, Inc. $CVCO

GSA Capital Partners LLP acquired a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,493 shares of the construction company’s stock, valued at approximately $882,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CVCO. Northwestern Mutual Wealth Management Co. increased its holdings in Cavco Industries by 852,093.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,798,128 shares of the construction company’s stock valued at $1,062,226,000 after buying an additional 1,797,917 shares in the last quarter. Boston Partners increased its stake in shares of Cavco Industries by 82.8% during the third quarter. Boston Partners now owns 369,177 shares of the construction company’s stock worth $213,866,000 after purchasing an additional 167,230 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Cavco Industries by 630.1% during the third quarter. Schonfeld Strategic Advisors LLC now owns 38,717 shares of the construction company’s stock worth $22,484,000 after purchasing an additional 33,414 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Cavco Industries by 282.0% during the third quarter. American Century Companies Inc. now owns 30,062 shares of the construction company’s stock worth $17,458,000 after purchasing an additional 22,193 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Cavco Industries by 6.1% during the second quarter. State Street Corp now owns 380,682 shares of the construction company’s stock worth $165,380,000 after purchasing an additional 21,837 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

CVCO has been the subject of a number of research reports. Weiss Ratings cut shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $550.00.

Insiders Place Their Bets

In related news, EVP Allison Aden sold 129 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $455.76, for a total transaction of $58,793.04. Following the transaction, the executive vice president directly owned 8,806 shares in the company, valued at approximately $4,013,422.56. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.60% of the company’s stock.

Cavco Industries Stock Up 3.6%

CVCO stock opened at $509.17 on Friday. The stock has a market capitalization of $3.95 billion, a P/E ratio of 21.24 and a beta of 1.31. The firm has a 50-day simple moving average of $495.18 and a 200-day simple moving average of $555.91. Cavco Industries, Inc. has a 52 week low of $393.53 and a 52 week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12. The business had revenue of $550.13 million during the quarter, compared to analysts’ expectations of $571.06 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.64%. On average, analysts expect that Cavco Industries, Inc. will post 25 earnings per share for the current year.

About Cavco Industries

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.