Penserra Capital Management LLC Increases Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Penserra Capital Management LLC increased its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 25.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 310 shares of the construction company’s stock after purchasing an additional 62 shares during the period. Penserra Capital Management LLC’s holdings in Cavco Industries were worth $59,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CVCO. Meeder Asset Management Inc. bought a new position in Cavco Industries in the third quarter worth approximately $34,000. Acadian Asset Management LLC purchased a new stake in Cavco Industries during the second quarter worth $64,000. FNY Investment Advisers LLC purchased a new stake in Cavco Industries during the third quarter worth $96,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Cavco Industries by 13.4% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 719 shares of the construction company’s stock valued at $113,000 after acquiring an additional 85 shares in the last quarter. Finally, Flinton Capital Management LLC boosted its position in Cavco Industries by 42.4% during the 2nd quarter. Flinton Capital Management LLC now owns 752 shares of the construction company’s stock valued at $118,000 after acquiring an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 92.96% of the company’s stock.

Separately, BidaskClub downgraded Cavco Industries from a “buy” rating to a “hold” rating in a report on Thursday, October 31st.

Shares of CVCO stock opened at $199.00 on Wednesday. Cavco Industries, Inc. has a 1-year low of $112.00 and a 1-year high of $210.00. The stock’s 50-day moving average is $196.73 and its 200 day moving average is $176.19. The company has a market cap of $1.83 billion, a P/E ratio of 24.82 and a beta of 1.58. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.87 and a quick ratio of 2.19.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Tuesday, October 29th. The construction company reported $2.25 EPS for the quarter, topping the Zacks’ consensus estimate of $2.16 by $0.09. The business had revenue of $268.70 million during the quarter, compared to the consensus estimate of $267.37 million. Cavco Industries had a net margin of 7.50% and a return on equity of 13.79%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 earnings per share.

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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