Victory Capital Management Inc. Sells 914 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

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.

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Institutional Ownership by Quarter for Cavco Industries (NASDAQ:CVCO)

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