Summit Global Investments Makes New $237,000 Investment in Cavco Industries, Inc. (NASDAQ:CVCO)

Summit Global Investments acquired a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 530 shares of the construction company’s stock, valued at approximately $237,000.

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

Insider Buying and Selling

In other news, Director Susan L. Blount sold 750 shares of the stock in a transaction dated Wednesday, January 15th. The shares were 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 owns 2,836 shares in the company, valued at $1,337,741.20. This trade represents a 20.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Greenblatt sold 4,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 15,286 shares in the company, valued at approximately $8,084,459.68. This represents a 20.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,644 shares of company stock valued at $4,494,608 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Cavco Industries Trading Up 1.6 %

Shares of CVCO stock opened at $530.64 on Wednesday. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08. The business’s 50 day moving average is $510.79 and its two-hundred day moving average is $472.64. The company has a market capitalization of $4.30 billion, a P/E ratio of 26.11 and a beta of 1.34.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) 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%. As a group, equities analysts predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CVCO has been the topic of a number of recent research reports. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Wedbush reaffirmed a “neutral” rating and issued a $550.00 target price (up from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd.

Cavco Industries Company 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.