530 Shares in Cavco Industries, Inc. (NASDAQ:CVCO) Purchased by Summit Global Investments

Summit Global Investments bought a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 530 shares of the construction company’s stock, valued at approximately $237,000.

Other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Cavco Industries in the 4th quarter worth approximately $67,000. Smartleaf Asset Management LLC lifted its stake in Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock worth $72,000 after purchasing an additional 128 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Cavco Industries by 28.9% during the fourth 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 period. GAMMA Investing LLC boosted its position in shares of Cavco Industries by 15.2% during the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after buying an additional 42 shares during the period. Finally, KBC Group NV grew its stake in shares of Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock valued at $147,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CVCO. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Wedbush reissued a “neutral” rating and set a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd.

Insider Activity at Cavco Industries

In related news, Director David A. Greenblatt sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the completion of the transaction, the director now owns 15,286 shares in the company, valued at approximately $8,084,459.68. The trade was a 20.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan L. Blount sold 750 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total value of $353,775.00. Following the completion of the transaction, the director now directly owns 2,836 shares in the company, valued at $1,337,741.20. This trade represents a 20.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,644 shares of company stock valued at $4,494,608 over the last 90 days. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Trading Up 1.6 %

Cavco Industries stock opened at $530.64 on Wednesday. The firm has a market capitalization of $4.30 billion, a P/E ratio of 26.11 and a beta of 1.34. The stock’s fifty day simple moving average is $510.79 and its 200-day simple moving average is $472.64. Cavco Industries, Inc. has a twelve month low of $331.08 and a twelve month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share for the quarter, topping the consensus estimate 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 predict that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

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.