Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 56.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,610 shares of the construction company’s stock after selling 4,713 shares during the period. Victory Capital Management Inc.’s holdings in Cavco Industries were worth $1,546,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Cavco Industries by 1,610.3% during the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after purchasing an additional 57,278 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Cavco Industries by 147.0% in the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after buying an additional 13,331 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Cavco Industries during the second quarter valued at approximately $4,245,000. AYAL Capital Advisors Ltd lifted its holdings in Cavco Industries by 61.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock worth $10,337,000 after buying an additional 11,361 shares during the last quarter. Finally, Natixis Advisors LLC acquired a new position in shares of Cavco Industries in the 2nd quarter worth approximately $3,640,000. Institutional investors own 95.56% of the company’s stock.

Insider Buying and Selling

In related news, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now directly owns 2,861 shares in the company, valued at $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the sale, the director now directly owns 6,547 shares of the company’s stock, valued at $2,679,032.40. The trade was a 37.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,213 shares of company stock valued at $1,729,458 in the last quarter. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

CVCO has been the subject of a number of research analyst reports. Craig Hallum boosted their price target on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Wedbush raised their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th.

Cavco Industries Trading Up 4.0 %

Shares of Cavco Industries stock opened at $533.17 on Tuesday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 30.14 and a beta of 1.24. Cavco Industries, Inc. has a twelve month low of $271.48 and a twelve month high of $544.08. The business’s 50 day simple moving average is $442.76 and its 200-day simple moving average is $399.15.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.58. The firm had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period last year, the company earned $4.76 earnings per share. Sell-side analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.

About Cavco Industries

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.