Oppenheimer Asset Management Inc. Decreases Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Oppenheimer Asset Management Inc. lowered its stake in Cavco Industries, Inc. (NASDAQ:CVCOFree Report) by 1.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,881 shares of the construction company’s stock after selling 80 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.06% of Cavco Industries worth $1,297,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Boston Partners grew its stake in Cavco Industries by 6.6% in the third quarter. Boston Partners now owns 5,009 shares of the construction company’s stock worth $1,331,000 after purchasing an additional 311 shares during the period. Robeco Schweiz AG grew its stake in Cavco Industries by 12.0% in the third quarter. Robeco Schweiz AG now owns 19,600 shares of the construction company’s stock worth $5,207,000 after purchasing an additional 2,100 shares during the period. Quantbot Technologies LP purchased a new stake in Cavco Industries in the third quarter worth $164,000. Jump Financial LLC purchased a new stake in shares of Cavco Industries in the third quarter worth $429,000. Finally, Aviance Capital Partners LLC grew its stake in shares of Cavco Industries by 127.9% in the third quarter. Aviance Capital Partners LLC now owns 16,481 shares of the construction company’s stock worth $4,378,000 after acquiring an additional 9,248 shares during the last quarter. Institutional investors own 95.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush reaffirmed an “outperform” rating and set a $390.00 price target on shares of Cavco Industries in a report on Friday, November 3rd.

Check Out Our Latest Report on CVCO

Cavco Industries Stock Performance

Shares of Cavco Industries stock opened at $349.13 on Thursday. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 17.71 and a beta of 1.10. The stock has a 50 day moving average price of $325.87 and a 200-day moving average price of $291.17. Cavco Industries, Inc. has a one year low of $233.84 and a one year high of $365.63.

Cavco Industries (NASDAQ:CVCOGet Free Report) last issued its quarterly earnings results on Friday, February 2nd. The construction company reported $4.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.36 by ($0.09). Cavco Industries had a return on equity of 17.00% and a net margin of 9.25%. The business had revenue of $446.77 million for the quarter, compared to the consensus estimate of $428.40 million. During the same period in the prior year, the business posted $6.66 earnings per share. Sell-side analysts predict that Cavco Industries, Inc. will post 19.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Steven K. Like sold 3,530 shares of Cavco Industries stock in a transaction on Friday, November 17th. The stock was sold at an average price of $281.37, for a total value of $993,236.10. Following the transaction, the senior vice president now directly owns 1,403 shares in the company, valued at approximately $394,762.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.73% of the stock is owned by corporate insiders.

About Cavco Industries

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Cavco Industries (NASDAQ:CVCO)

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