Seven Eight Capital LP Increases Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Seven Eight Capital LP raised its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 209.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,833 shares of the construction company’s stock after acquiring an additional 1,240 shares during the quarter. Seven Eight Capital LP’s holdings in Cavco Industries were worth $635,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CVCO. Capital World Investors grew its holdings in shares of 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 in the last quarter. Boston Trust Walden Corp grew its stake in shares of Cavco Industries by 0.8% in the second quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after acquiring an additional 1,541 shares in the last quarter. Norges Bank acquired a new position in shares of Cavco Industries in the fourth quarter worth $21,059,000. Ashford Capital Management Inc. increased its position in shares of Cavco Industries by 0.5% during the first 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, Kennedy Capital Management LLC raised its stake in shares of Cavco Industries by 9.0% in the first quarter. Kennedy Capital Management LLC now owns 48,031 shares of the construction company’s stock valued at $19,167,000 after acquiring an additional 3,975 shares in the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wedbush restated an “outperform” rating and set a $425.00 price target on shares of Cavco Industries in a report on Friday, August 2nd. Craig Hallum raised their target price on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a report on Monday, August 5th.

Insider Transactions at Cavco Industries

In related news, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Steven K. Like sold 575 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total value of $210,806.50. Following the transaction, the senior vice president now directly owns 1,255 shares in the company, valued at approximately $460,108.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,663 shares of company stock worth $1,882,930. 1.60% of the stock is currently owned by insiders.

Cavco Industries Price Performance

NASDAQ:CVCO opened at $435.77 on Friday. Cavco Industries, Inc. has a 12 month low of $233.84 and a 12 month high of $444.90. The firm has a market capitalization of $3.61 billion, a PE ratio of 23.75 and a beta of 1.24. The business’s fifty day moving average price is $399.48 and its 200 day moving average price is $377.10.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). The business had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same quarter in the previous year, the company posted $5.29 EPS. As a group, equities analysts anticipate that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Cavco Industries 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.