Summit Global Investments Increases Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Summit Global Investments raised its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 24.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,695 shares of the construction company’s stock after purchasing an additional 924 shares during the period. Summit Global Investments owned approximately 0.06% of Cavco Industries worth $1,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in Cavco Industries during the 3rd quarter valued at $1,051,000. Park Avenue Securities LLC bought a new stake in shares of Cavco Industries during the 3rd quarter valued at about $390,000. Punch & Associates Investment Management Inc. bought a new stake in shares of Cavco Industries during the 3rd quarter valued at about $6,281,000. Cascade Investment Advisors Inc. increased its position in shares of Cavco Industries by 46.7% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 4,276 shares of the construction company’s stock valued at $1,136,000 after purchasing an additional 1,361 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Cavco Industries by 14.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,688 shares of the construction company’s stock worth $980,000 after purchasing an additional 477 shares during the period. 95.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Matthew A. Nino sold 2,357 shares of Cavco Industries stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $360.00, for a total transaction of $848,520.00. Following the transaction, the insider now directly owns 1,248 shares of the company’s stock, valued at approximately $449,280. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Paul Bigbee sold 262 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $367.13, for a total value of $96,188.06. Following the transaction, the chief accounting officer now directly owns 766 shares in the company, valued at $281,221.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew A. Nino sold 2,357 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $360.00, for a total value of $848,520.00. Following the sale, the insider now owns 1,248 shares of the company’s stock, valued at approximately $449,280. The disclosure for this sale can be found here. Company insiders own 1.73% of the company’s stock.

Cavco Industries Trading Up 1.4 %

NASDAQ CVCO traded up $5.28 during trading hours on Friday, hitting $377.30. 40,508 shares of the company’s stock traded hands, compared to its average volume of 62,068. Cavco Industries, Inc. has a 52 week low of $233.84 and a 52 week high of $400.99. The firm has a market capitalization of $3.15 billion, a P/E ratio of 19.14 and a beta of 1.16. The business’s fifty day moving average price is $374.50 and its two-hundred day moving average price is $333.33.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings data on Friday, February 2nd. The construction company reported $4.27 EPS for the quarter, missing the consensus estimate of $4.36 by ($0.09). The company had revenue of $446.77 million during the quarter, compared to analysts’ expectations of $428.40 million. Cavco Industries had a return on equity of 17.00% and a net margin of 9.25%. During the same quarter last year, the company earned $6.66 earnings per share. On average, sell-side analysts expect that Cavco Industries, Inc. will post 19.46 EPS 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.