Y Intercept Hong Kong Ltd Invests $4.41 Million in Cavco Industries, Inc. $CVCO

Y Intercept Hong Kong Ltd purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) in the first quarter, Holdings Channel reports. The firm purchased 9,115 shares of the construction company’s stock, valued at approximately $4,414,000.

A number of other institutional investors have also recently added to or reduced their stakes in CVCO. Aster Capital Management DIFC Ltd acquired a new position in Cavco Industries during the fourth quarter worth $46,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Cavco Industries in the 4th quarter worth $50,000. Los Angeles Capital Management LLC purchased a new position in shares of Cavco Industries during the 4th quarter worth $54,000. Osaic Holdings Inc. boosted its position in shares of Cavco Industries by 118.2% during the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after acquiring an additional 65 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of Cavco Industries during the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $598.73 on Monday. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 24.98 and a beta of 1.28. Cavco Industries, Inc. has a 12-month low of $397.38 and a 12-month high of $713.01. The business has a 50-day moving average price of $543.60 and a 200 day moving average price of $556.62.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. The company had revenue of $550.13 million for 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 17.55%. As a group, equities research analysts predict that Cavco Industries, Inc. will post 25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. UBS Group started coverage on shares of 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 raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cavco Industries presently has an average rating of “Moderate Buy” and an average target price of $625.00.

Insider Activity

In other news, CAO Paul Bigbee sold 200 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $537.75, for a total value of $107,550.00. Following the sale, the chief accounting officer directly owned 1,105 shares of the company’s stock, valued at approximately $594,213.75. The trade was a 15.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allison Aden sold 1,473 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total transaction of $920,625.00. Following the completion of the transaction, the executive vice president owned 9,147 shares in the company, valued at approximately $5,716,875. This represents a 13.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 3,541 shares of company stock valued at $2,121,932. Company insiders own 1.70% of the company’s stock.

Cavco Industries Company 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.