Proficio Capital Partners LLC Purchases New Stake in Cavco Industries, Inc. (NASDAQ:CVCO)

Proficio Capital Partners LLC purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,048 shares of the construction company’s stock, valued at approximately $5,376,000.

Other hedge funds have also added to or reduced their stakes in the company. Avior Wealth Management LLC acquired a new position in Cavco Industries in the third quarter valued at about $64,000. Smartleaf Asset Management LLC lifted its stake in Cavco Industries by 387.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock valued at $72,000 after buying an additional 128 shares during the period. Blue Trust Inc. lifted 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 valued at $105,000 after buying an additional 55 shares during the period. GAMMA Investing LLC lifted its stake in Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after buying an additional 42 shares during the period. Finally, KBC Group NV lifted its stake in 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 during the period. Institutional investors own 95.56% of the company’s stock.

Insider Transactions at Cavco Industries

In related news, Director David A. Greenblatt sold 4,000 shares of Cavco Industries 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 sale, the director now owns 15,286 shares of the company’s stock, valued at approximately $8,084,459.68. This trade represents a 20.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Blount sold 2,000 shares of Cavco Industries stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $507.18, for a total value of $1,014,360.00. Following the completion of the sale, 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 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 company insiders.

Wall Street Analysts Forecast Growth

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

Cavco Industries Price Performance

NASDAQ CVCO opened at $506.83 on Monday. The firm has a market cap of $4.11 billion, a P/E ratio of 24.94 and a beta of 1.34. The stock’s 50-day moving average is $500.43 and its 200-day moving average is $467.06. Cavco Industries, Inc. has a one year low of $331.08 and a one year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 EPS 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%. Equities analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Cavco Industries Company 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.