Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,366 shares of the construction company’s stock after selling 466 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.05% of Cavco Industries worth $1,870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors increased its stake in Cavco Industries by 2.9% in the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock valued at $241,800,000 after purchasing an additional 17,125 shares during the period. Boston Trust Walden Corp increased its position in Cavco Industries by 0.8% in the 2nd quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock valued at $67,865,000 after acquiring an additional 1,541 shares during the period. Assenagon Asset Management S.A. raised its stake in Cavco Industries by 1,610.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after acquiring an additional 57,278 shares during the last quarter. Ashford Capital Management Inc. lifted its position in Cavco Industries by 0.5% during the 1st quarter. Ashford Capital Management Inc. now owns 58,180 shares of the construction company’s stock worth $23,217,000 after acquiring an additional 310 shares during the period. Finally, Handelsbanken Fonder AB grew its stake in shares of Cavco Industries by 1.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 57,986 shares of the construction company’s stock valued at $24,832,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total value of $35,323.20. Following the sale, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. This represents a 7.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the transaction, the director now directly owns 2,861 shares of the company’s stock, valued at $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,213 shares of company stock worth $1,729,458. 1.60% of the stock is owned by company insiders.

Cavco Industries Price Performance

CVCO opened at $465.23 on Friday. The business has a 50 day simple moving average of $433.31 and a 200-day simple moving average of $393.85. Cavco Industries, Inc. has a 12 month low of $271.48 and a 12 month high of $484.80. The stock has a market capitalization of $3.77 billion, a P/E ratio of 26.30 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same period in the previous year, the firm earned $4.76 EPS. Research analysts anticipate that Cavco Industries, Inc. will post 18 EPS for the current year.

Analysts Set New Price Targets

CVCO has been the subject of several recent research reports. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Craig Hallum raised their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Wedbush lifted their target price on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th.

About Cavco Industries

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.