BNP Paribas Arbitrage SA raised its stake in Cavco Industries, Inc. (NASDAQ:CVCO) by 1,329.1% during the first quarter, Holdings Channel reports. The firm owned 1,915 shares of the construction company’s stock after purchasing an additional 1,781 shares during the period. BNP Paribas Arbitrage SA’s holdings in Cavco Industries were worth $225,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Broad Bay Capital Management LP acquired a new position in shares of Cavco Industries during the 4th quarter valued at $13,038,000. Norges Bank acquired a new position in shares of Cavco Industries during the 4th quarter valued at $10,889,000. Gendell Jeffrey L lifted its holdings in shares of Cavco Industries by 2,795.8% during the 4th quarter. Gendell Jeffrey L now owns 77,984 shares of the construction company’s stock valued at $10,168,000 after acquiring an additional 75,291 shares in the last quarter. Cannell Capital LLC acquired a new position in shares of Cavco Industries during the 4th quarter valued at $6,961,000. Finally, Morgan Stanley lifted its holdings in shares of Cavco Industries by 107.9% during the 3rd quarter. Morgan Stanley now owns 63,786 shares of the construction company’s stock valued at $16,138,000 after acquiring an additional 33,102 shares in the last quarter. Institutional investors own 90.98% of the company’s stock.

NASDAQ:CVCO opened at $156.31 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.42 billion, a P/E ratio of 17.04 and a beta of 1.94. Cavco Industries, Inc. has a twelve month low of $112.00 and a twelve month high of $261.80.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, May 23rd. The construction company reported $2.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.64. The business had revenue of $241.10 million for the quarter, compared to analyst estimates of $226.96 million. Cavco Industries had a net margin of 7.34% and a return on equity of 14.62%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.40 EPS.

Several research firms recently weighed in on CVCO. BidaskClub upgraded shares of Cavco Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, January 31st. Craig Hallum reduced their target price on shares of Cavco Industries from $170.00 to $128.00 and set an “in-line” rating on the stock in a report on Wednesday, February 6th.

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Cavco Industries Profile

Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.

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

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