Cresset Asset Management LLC Sells 470 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Cresset Asset Management LLC lowered its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 8.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,244 shares of the construction company’s stock after selling 470 shares during the quarter. Cresset Asset Management LLC owned 0.06% of Cavco Industries worth $2,340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Cavco Industries in the fourth quarter valued at $67,000. Smartleaf Asset Management LLC raised its position in Cavco Industries by 387.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock worth $72,000 after purchasing 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 worth $105,000 after purchasing an additional 55 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Cavco Industries by 15.2% during 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 grew its stake in shares of Cavco Industries by 35.2% during 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 last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Cavco Industries Stock Down 0.6 %

Shares of NASDAQ:CVCO opened at $524.14 on Friday. The business’s 50 day moving average is $499.98 and its 200 day moving average is $487.69. The stock has a market cap of $4.25 billion, a P/E ratio of 25.79 and a beta of 1.29. Cavco Industries, Inc. has a 52-week low of $331.08 and a 52-week high of $544.08.

Insider Activity

In other Cavco Industries news, Director David A. Greenblatt sold 4,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the transaction, the director now directly owns 15,286 shares in the company, valued at $8,084,459.68. This represents a 20.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVCO. Wedbush reissued a “neutral” rating and set a $550.00 price target (up from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Friday, April 25th.

About Cavco Industries

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.