Ashford Capital Management Inc. Decreases Position in Cavco Industries, Inc. $CVCO

Ashford Capital Management Inc. trimmed its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 40.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,412 shares of the construction company’s stock after selling 19,607 shares during the quarter. Cavco Industries makes up 1.9% of Ashford Capital Management Inc.’s portfolio, making the stock its 19th biggest holding. Ashford Capital Management Inc.’s holdings in Cavco Industries were worth $16,784,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in Cavco Industries during the fourth quarter worth $46,000. Los Angeles Capital Management LLC purchased a new stake in Cavco Industries during the fourth quarter worth $54,000. Osaic Holdings Inc. boosted its position in Cavco Industries by 118.2% during the second quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock worth $57,000 after purchasing an additional 65 shares in the last quarter. Danske Bank A S purchased a new stake in Cavco Industries during the third quarter worth $58,000. Finally, CIBC Private Wealth Group LLC boosted its position in Cavco Industries by 72.5% during the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock worth $69,000 after purchasing an additional 50 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CVCO. UBS Group started coverage on Cavco Industries in a research report on Friday, June 5th. They set a “buy” rating and a $700.00 target price on the stock. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $625.00.

Cavco Industries Trading Up 2.0%

Cavco Industries stock opened at $604.47 on Wednesday. The firm has a market capitalization of $4.64 billion, a P/E ratio of 25.22 and a beta of 1.30. The stock has a fifty day moving average price of $520.87 and a 200 day moving average price of $555.31. Cavco Industries, Inc. has a 52 week low of $393.85 and a 52 week high of $713.01.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, topping the consensus estimate of $5.30 by $0.12. The company had revenue of $550.13 million during the quarter, compared to analyst estimates of $571.06 million. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%. As a group, equities analysts predict that Cavco Industries, Inc. will post 25 EPS for the current year.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 200 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $537.75, for a total transaction of $107,550.00. Following the completion of the sale, the chief accounting officer directly owned 1,105 shares in the company, valued at $594,213.75. This represents a 15.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard A. Kerley sold 500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total value of $294,380.00. Following the sale, the director owned 6,169 shares of the company’s stock, valued at $3,632,060.44. This represents a 7.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,068 shares of company stock worth $1,201,307 over the last three months. 1.60% of the stock is owned by insiders.

About Cavco Industries

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.