Teton Advisors Inc. lessened its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,000 shares of the construction company’s stock after selling 1,000 shares during the quarter. Teton Advisors Inc. owned 0.61% of Cavco Industries worth $8,115,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its position in Cavco Industries by 17.8% during the 2nd quarter. Victory Capital Management Inc. now owns 1,517 shares of the construction company’s stock worth $197,000 after purchasing an additional 229 shares in the last quarter. State of Alaska Department of Revenue increased its position in Cavco Industries by 78.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,662 shares of the construction company’s stock worth $215,000 after purchasing an additional 732 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Cavco Industries during the 1st quarter worth approximately $202,000. Pinnacle Associates Ltd. acquired a new stake in Cavco Industries during the 2nd quarter worth approximately $226,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in Cavco Industries during the 2nd quarter worth approximately $237,000. 91.21% of the stock is owned by hedge funds and other institutional investors.
In related news, Director David A. Greenblatt sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $136.68, for a total value of $410,040.00. Following the completion of the sale, the director now directly owns 10,175 shares in the company, valued at approximately $1,390,719. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.44% of the stock is currently owned by insiders.
Shares of Cavco Industries, Inc. (CVCO) traded up $1.10 during trading hours on Monday, reaching $153.00. 5,189 shares of the company’s stock traded hands, compared to its average volume of 26,155. Cavco Industries, Inc. has a one year low of $88.65 and a one year high of $157.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.51 and a quick ratio of 1.81. The firm has a market capitalization of $1,370.05, a P/E ratio of 31.32 and a beta of 1.62.
Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Monday, August 7th. The construction company reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.20. Cavco Industries had a return on equity of 11.40% and a net margin of 5.56%. The firm had revenue of $206.80 million during the quarter, compared to analyst estimates of $200.70 million. During the same period in the previous year, the company earned $0.60 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis.
Several analysts have issued reports on the stock. BidaskClub downgraded shares of Cavco Industries from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Sidoti raised shares of Cavco Industries from a “neutral” rating to a “buy” rating in a research report on Friday, August 25th.
Cavco Industries Company Profile
Cavco Industries, Inc designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. Its factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers.
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