Philadelphia Financial Management of San Francisco LLC Takes $5.41 Million Position in Cavco Industries, Inc. $CVCO

Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,810 shares of the construction company’s stock, valued at approximately $5,412,688. Philadelphia Financial Management of San Francisco LLC owned approximately 0.11% of Cavco Industries at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. UBS Group AG boosted its position in Cavco Industries by 31.5% in the fourth quarter. UBS Group AG now owns 40,017 shares of the construction company’s stock worth $23,640,000 after purchasing an additional 9,589 shares during the last quarter. Fifth Third Bancorp grew its holdings in Cavco Industries by 599.0% in the first quarter. Fifth Third Bancorp now owns 2,824 shares of the construction company’s stock worth $1,367,000 after purchasing an additional 2,420 shares during the last quarter. Robotti Robert acquired a new stake in Cavco Industries in the second quarter valued at approximately $19,903,000. Intech Investment Management LLC boosted its stake in Cavco Industries by 58.0% during the fourth quarter. Intech Investment Management LLC now owns 5,766 shares of the construction company’s stock worth $3,406,000 after buying an additional 2,116 shares during the period. Finally, Pier Capital LLC grew its stake in Cavco Industries by 90.8% during the 4th quarter. Pier Capital LLC now owns 12,103 shares of the construction company’s stock worth $7,150,000 after buying an additional 5,761 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Trading Down 0.3%

NASDAQ:CVCO traded down $1.87 during mid-day trading on Friday, hitting $568.40. The company’s stock had a trading volume of 77,605 shares, compared to its average volume of 155,024. Cavco Industries, Inc. has a fifty-two week low of $443.33 and a fifty-two week high of $713.01. The stock has a fifty day moving average of $582.80 and a 200-day moving average of $546.65. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 24.73 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.69 by ($0.26). The company had revenue of $609.96 million during the quarter, compared to the consensus estimate of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. On average, equities analysts anticipate that Cavco Industries, Inc. will post 22.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on CVCO shares. UBS Group began coverage on shares of Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research note on Friday, August 21st. Zacks Research downgraded shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Finally, Zelman & Associates cut shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $700.00.

Insider Transactions at Cavco Industries

In related news, Director Richard A. Kerley sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total value of $294,380.00. Following the sale, the director owned 6,169 shares of the company’s stock, valued at approximately $3,632,060.44. This trade represents a 7.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Paul Bigbee sold 342 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total value of $202,464.00. Following the transaction, the chief accounting officer owned 736 shares of the company’s stock, valued at approximately $435,712. This trade represents a 31.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,553 shares of company stock worth $2,159,368 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

Cavco Industries Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.