Atom Investors LP Takes Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Atom Investors LP bought a new position in Cavco Industries, Inc. (NASDAQ:CVCO) in the third quarter, HoldingsChannel.com reports. The firm bought 17,682 shares of the construction company’s stock, valued at approximately $7,572,000. Cavco Industries accounts for 0.8% of Atom Investors LP’s investment portfolio, making the stock its 22nd biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Walleye Capital LLC acquired a new position in Cavco Industries in the 3rd quarter worth $883,000. Public Sector Pension Investment Board boosted its stake in Cavco Industries by 2.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 17,531 shares of the construction company’s stock worth $7,507,000 after purchasing an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cavco Industries by 62.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 752 shares of the construction company’s stock worth $322,000 after purchasing an additional 290 shares during the period. BNP Paribas Financial Markets boosted its stake in Cavco Industries by 25.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,809 shares of the construction company’s stock worth $3,344,000 after purchasing an additional 1,586 shares during the period. Finally, FMR LLC boosted its stake in shares of Cavco Industries by 7.0% during the 3rd quarter. FMR LLC now owns 135,444 shares of the construction company’s stock worth $58,002,000 after buying an additional 8,829 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Cavco Industries Price Performance

Cavco Industries stock opened at $514.50 on Monday. The firm has a 50-day moving average of $449.40 and a 200-day moving average of $403.05. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 29.08 and a beta of 1.24. Cavco Industries, Inc. has a one year low of $279.50 and a one year high of $544.08.

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

Insider Activity

In other news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the sale, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. This represents a 7.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven G. Bunger sold 4,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the transaction, the director now directly owns 6,547 shares in the company, valued at approximately $2,679,032.40. This represents a 37.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,313 shares of company stock valued at $1,780,681. 1.60% of the stock is owned by company insiders.

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.