New Age Alpha Advisors LLC Makes New Investment in Cavco Industries, Inc. (NASDAQ:CVCO)

New Age Alpha Advisors LLC bought a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 482 shares of the construction company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CVCO. Harvest Fund Management Co. Ltd bought a new stake in Cavco Industries during the 4th quarter valued at approximately $67,000. Smartleaf Asset Management LLC boosted its position in shares of Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after purchasing an additional 128 shares in the last quarter. Blue Trust Inc. grew its stake in Cavco Industries by 28.9% in the fourth quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $105,000 after purchasing an additional 55 shares during the period. GAMMA Investing LLC raised its holdings in Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock worth $142,000 after purchasing an additional 42 shares in the last quarter. Finally, KBC Group NV lifted its position in Cavco Industries by 35.2% during 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 during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Cavco Industries

In other news, insider Matthew A. Nino sold 894 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $529.03, for a total value of $472,952.82. Following the completion of the transaction, the insider now owns 771 shares in the company, valued at $407,882.13. The trade was a 53.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,644 shares of company stock valued at $4,494,608. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $527.56 on Thursday. The business has a fifty day moving average price of $516.55 and a 200-day moving average price of $476.92. The company has a market capitalization of $4.28 billion, a PE ratio of 25.96 and a beta of 1.34. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year high of $544.08.

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