First Sabrepoint Capital Management LP Sells 1,950 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

First Sabrepoint Capital Management LP reduced its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 13.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,750 shares of the construction company’s stock after selling 1,950 shares during the quarter. Cavco Industries makes up approximately 1.6% of First Sabrepoint Capital Management LP’s investment portfolio, making the stock its 21st biggest position. First Sabrepoint Capital Management LP’s holdings in Cavco Industries were worth $5,460,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Trust Walden Corp raised its holdings in Cavco Industries by 0.8% during the second 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. FMR LLC raised its stake in Cavco Industries by 7.0% during the 3rd quarter. FMR LLC now owns 135,444 shares of the construction company’s stock valued at $58,002,000 after purchasing an additional 8,829 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Cavco Industries by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock worth $46,872,000 after purchasing an additional 5,935 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Cavco Industries by 8.5% in the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after purchasing an additional 5,620 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings 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 buying an additional 57,278 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CVCO shares. Wedbush cut shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price for the company. in a research note on Tuesday, December 3rd. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Craig Hallum boosted their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Trading Up 0.6 %

Shares of NASDAQ:CVCO opened at $503.69 on Tuesday. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 28.47 and a beta of 1.29. Cavco Industries, Inc. has a 12 month low of $301.56 and a 12 month high of $544.08. The company has a 50-day moving average price of $458.84 and a 200 day moving average price of $409.02.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The company had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. During the same quarter in the prior year, the firm posted $4.76 EPS. As a group, equities analysts forecast that Cavco Industries, Inc. will post 18 EPS for the current year.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. The trade was a 7.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the transaction, the director now directly owns 6,547 shares in the company, valued at $2,679,032.40. This trade represents a 37.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,313 shares of company stock worth $1,780,681. Insiders own 1.60% of the company’s stock.

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.