ProShare Advisors LLC Lowers Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

ProShare Advisors LLC cut its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 23.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,278 shares of the construction company’s stock after selling 398 shares during the quarter. ProShare Advisors LLC’s holdings in Cavco Industries were worth $442,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CVCO. Verus Capital Partners LLC increased its position in Cavco Industries by 4.5% during the 2nd quarter. Verus Capital Partners LLC now owns 653 shares of the construction company’s stock worth $226,000 after purchasing an additional 28 shares in the last quarter. Anchor Capital Advisors LLC grew its stake in Cavco Industries by 0.7% during the first quarter. Anchor Capital Advisors LLC now owns 4,951 shares of the construction company’s stock worth $1,976,000 after buying an additional 32 shares during the period. Arizona State Retirement System increased its position in shares of Cavco Industries by 1.9% in the second quarter. Arizona State Retirement System now owns 2,103 shares of the construction company’s stock worth $728,000 after acquiring an additional 39 shares in the last quarter. Seven Eight Capital LP raised its stake in shares of Cavco Industries by 3.8% in the 4th quarter. Seven Eight Capital LP now owns 1,399 shares of the construction company’s stock valued at $485,000 after acquiring an additional 51 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after acquiring an additional 99 shares during the period. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Trading Up 2.9 %

Shares of CVCO stock opened at $440.47 on Wednesday. The firm has a fifty day simple moving average of $403.25 and a 200-day simple moving average of $379.58. The company has a market capitalization of $3.65 billion, a PE ratio of 24.00 and a beta of 1.24. Cavco Industries, Inc. has a twelve month low of $233.84 and a twelve month high of $444.90.

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

Insider Buying and Selling at Cavco Industries

In other Cavco Industries 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 transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were 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 directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Steven K. Like sold 575 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares in the company, valued at approximately $460,108.10. The disclosure for this sale can be found here. Insiders sold a total of 4,663 shares of company stock worth $1,882,930 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CVCO. Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Cavco Industries in a report on Friday, August 2nd. Craig Hallum increased their target price on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

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.