Assenagon Asset Management S.A. Sells 29,520 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Assenagon Asset Management S.A. cut its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 48.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 31,315 shares of the construction company’s stock after selling 29,520 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cavco Industries were worth $13,974,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CVCO. Farther Finance Advisors LLC raised its stake 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 last quarter. Avior Wealth Management LLC acquired a new position in shares of Cavco Industries during the third quarter valued at about $64,000. Blue Trust Inc. lifted its stake in shares of 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 buying an additional 90 shares during the period. GAMMA Investing LLC grew its position in Cavco Industries by 30.2% during the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after buying an additional 64 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in Cavco Industries during the third quarter valued at about $208,000. 95.56% of the stock is owned by institutional investors.

Cavco Industries Trading Up 1.1 %

NASDAQ CVCO opened at $476.84 on Friday. Cavco Industries, Inc. has a 1-year low of $310.46 and a 1-year high of $544.08. The stock’s 50 day moving average is $473.45 and its two-hundred day moving average is $429.72. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 26.96 and a beta of 1.33.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The firm had revenue of $507.46 million for the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $4.76 earnings per share. On average, analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Analyst Upgrades and Downgrades

CVCO has been the subject of a number of research reports. Wedbush downgraded Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective for the company. in a research report on Tuesday, December 3rd. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Finally, Craig Hallum boosted their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Insider Transactions at Cavco Industries

In other news, CAO Paul Bigbee sold 100 shares of Cavco Industries stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the transaction, the chief accounting officer now owns 981 shares in the company, valued at approximately $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan L. Blount sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total value of $353,775.00. Following the completion of the transaction, the director now directly owns 2,836 shares in the company, valued at $1,337,741.20. The trade was a 20.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,850 shares of company stock valued at $889,417. 1.60% of the stock is owned by insiders.

Cavco Industries 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.