Victory Capital Management Inc. lowered its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 51.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 856 shares of the construction company’s stock after selling 914 shares during the quarter. Victory Capital Management Inc.’s holdings in Cavco Industries were worth $135,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of CVCO. AdvisorNet Financial Inc bought a new position in shares of Cavco Industries during the second quarter valued at $29,000. Acadian Asset Management LLC acquired a new stake in Cavco Industries during the 2nd quarter worth about $64,000. Flinton Capital Management LLC lifted its position in Cavco Industries by 42.4% during the 2nd quarter. Flinton Capital Management LLC now owns 752 shares of the construction company’s stock worth $118,000 after acquiring an additional 224 shares during the period. Riverhead Capital Management LLC lifted its position in Cavco Industries by 33.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 800 shares of the construction company’s stock worth $126,000 after acquiring an additional 200 shares during the period. Finally, Meadow Creek Investment Management LLC lifted its position in Cavco Industries by 42.4% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 1,034 shares of the construction company’s stock worth $163,000 after acquiring an additional 308 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.
Shares of CVCO opened at $188.28 on Wednesday. The stock has a 50-day moving average of $188.52 and a two-hundred day moving average of $156.12. Cavco Industries, Inc. has a one year low of $112.00 and a one year high of $243.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.06 and a current ratio of 2.73. The stock has a market cap of $1.72 billion, a P/E ratio of 25.43 and a beta of 1.59.
Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Monday, July 29th. The construction company reported $2.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.44. Cavco Industries had a return on equity of 13.48% and a net margin of 7.16%. The firm had revenue of $264.04 million during the quarter, compared to analyst estimates of $256.38 million. During the same quarter in the previous year, the business earned $2.12 EPS. Cavco Industries’s revenue for the quarter was up 7.2% compared to the same quarter last year.
CVCO has been the subject of a number of research reports. BidaskClub cut Cavco Industries from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 24th. Craig Hallum lifted their price target on Cavco Industries from $153.00 to $173.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st.
About Cavco Industries
Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.
Want to see what other hedge funds are holding CVCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cavco Industries, Inc. (NASDAQ:CVCO).
Receive News & Ratings for Cavco Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cavco Industries and related companies with MarketBeat.com's FREE daily email newsletter.