Atria Investments Inc Reduces Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Atria Investments Inc trimmed its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 5.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 808 shares of the construction company’s stock after selling 51 shares during the period. Atria Investments Inc’s holdings in Cavco Industries were worth $361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CVCO. Avior Wealth Management LLC purchased a new position in Cavco Industries during the 3rd quarter worth $64,000. Smartleaf Asset Management LLC grew its stake in Cavco Industries by 387.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock worth $72,000 after buying an additional 128 shares during the last quarter. Blue Trust Inc. grew its stake in Cavco Industries by 28.9% during the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $105,000 after buying an additional 55 shares during the last quarter. GAMMA Investing LLC grew its stake in Cavco Industries by 15.2% during the 4th quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after purchasing an additional 42 shares during the last quarter. Finally, KBC Group NV grew its stake in Cavco Industries by 35.2% during the 4th quarter. KBC Group NV now owns 330 shares of the construction company’s stock valued at $147,000 after purchasing an additional 86 shares during the last quarter. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Up 3.1 %

Shares of CVCO stock opened at $506.83 on Monday. The stock has a market cap of $4.11 billion, a PE ratio of 24.94 and a beta of 1.34. The business has a 50-day simple moving average of $500.43 and a 200-day simple moving average of $467.06. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. Sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Susan L. Blount sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $507.18, for a total value of $1,014,360.00. Following the completion of the transaction, the director now directly owns 2,836 shares in the company, valued at approximately $1,438,362.48. This represents a 41.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total value of $2,115,520.00. Following the completion of the transaction, the director now owns 15,286 shares of the company’s stock, valued at $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,644 shares of company stock worth $4,494,608. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CVCO shares. Wedbush reiterated a “neutral” rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd.

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.