Ballast Asset Management LP Sells 546 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Ballast Asset Management LP reduced its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 3.4% during the 4th quarter, HoldingsChannel reports. The firm owned 15,677 shares of the construction company’s stock after selling 546 shares during the quarter. Cavco Industries makes up approximately 3.6% of Ballast Asset Management LP’s holdings, making the stock its 3rd biggest holding. Ballast Asset Management LP’s holdings in Cavco Industries were worth $6,996,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CVCO. Harvest Fund Management Co. Ltd acquired a new stake in Cavco Industries in the 4th quarter valued at $67,000. Smartleaf Asset Management LLC lifted its holdings in shares of Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after acquiring an additional 128 shares during the period. Blue Trust Inc. lifted its holdings in shares of Cavco Industries by 28.9% during the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after acquiring an additional 55 shares during the period. GAMMA Investing LLC boosted its stake in shares of Cavco Industries by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after purchasing an additional 42 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Cavco Industries by 35.2% in the 4th quarter. KBC Group NV now owns 330 shares of the construction company’s stock worth $147,000 after purchasing an additional 86 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $519.63 on Tuesday. The business has a fifty day moving average of $514.78 and a 200-day moving average of $475.94. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08. The firm has a market cap of $4.21 billion, a PE ratio of 25.57 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a net margin of 8.75% and a return on equity of 16.17%. On average, analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CVCO. Wedbush reissued a “neutral” rating and set a $550.00 price target (up from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd.

Insider Activity at Cavco Industries

In other news, Director David A. Greenblatt sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the transaction, the director now owns 15,286 shares of the company’s stock, valued at $8,084,459.68. This represents a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan L. Blount sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $507.18, for a total value of $1,014,360.00. Following the completion of the transaction, the director now owns 2,836 shares in the company, valued at approximately $1,438,362.48. This represents a 41.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,644 shares of company stock valued at $4,494,608 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

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.