AQR Capital Management LLC Trims Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

AQR Capital Management LLC reduced its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 40.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 19,676 shares of the construction company’s stock after selling 13,139 shares during the period. AQR Capital Management LLC owned 0.22% of Cavco Industries worth $2,852,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CVCO. Victory Capital Management Inc. lifted its holdings in shares of Cavco Industries by 5.1% in the 4th quarter. Victory Capital Management Inc. now owns 9,866 shares of the construction company’s stock valued at $1,928,000 after purchasing an additional 483 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cavco Industries by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 70,351 shares of the construction company’s stock worth $13,746,000 after purchasing an additional 1,713 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of Cavco Industries by 11.0% during the 4th quarter. Rafferty Asset Management LLC now owns 2,447 shares of the construction company’s stock worth $478,000 after purchasing an additional 242 shares during the period. Bank of Montreal Can lifted its stake in shares of Cavco Industries by 24.0% during the 4th quarter. Bank of Montreal Can now owns 1,385 shares of the construction company’s stock worth $270,000 after purchasing an additional 268 shares during the period. Finally, Barclays PLC lifted its stake in shares of Cavco Industries by 31.8% during the 4th quarter. Barclays PLC now owns 17,836 shares of the construction company’s stock worth $3,485,000 after purchasing an additional 4,304 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

CVCO has been the topic of several research reports. TheStreet raised Cavco Industries from a “c+” rating to a “b-” rating in a research report on Friday, June 12th. BidaskClub downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Craig Hallum raised their target price on Cavco Industries from $142.00 to $204.00 and gave the company a “hold” rating in a research note on Thursday, May 28th.

NASDAQ:CVCO opened at $192.85 on Wednesday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 23.81 and a beta of 1.60. Cavco Industries, Inc. has a one year low of $99.58 and a one year high of $236.10. The stock has a 50-day simple moving average of $183.85 and a 200 day simple moving average of $182.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.34 and a current ratio of 3.00.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Tuesday, May 26th. The construction company reported $1.29 EPS for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.26). The firm had revenue of $255.34 million during the quarter. Cavco Industries had a return on equity of 12.74% and a net margin of 7.07%.

Cavco Industries Profile

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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