Man Group plc Sells 928 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)

Man Group plc decreased its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,708 shares of the construction company’s stock after selling 928 shares during the period. Man Group plc owned 0.08% of Cavco Industries worth $2,993,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CVCO. Barclays PLC boosted its stake in shares of Cavco Industries by 162.0% in the third quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock worth $7,381,000 after acquiring an additional 10,656 shares during the period. Park Avenue Securities LLC boosted its stake in shares of Cavco Industries by 30.8% in the fourth quarter. Park Avenue Securities LLC now owns 1,369 shares of the construction company’s stock worth $611,000 after acquiring an additional 322 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of Cavco Industries by 28.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 622 shares of the construction company’s stock worth $277,000 after acquiring an additional 138 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Cavco Industries by 12.6% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,120 shares of the construction company’s stock worth $946,000 after acquiring an additional 237 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Cavco Industries in the fourth quarter worth about $254,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Down 3.3%

Shares of Cavco Industries stock opened at $499.23 on Friday. The stock has a 50 day moving average of $501.46 and a 200 day moving average of $493.86. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $549.99. The firm has a market cap of $4.05 billion, a PE ratio of 24.57 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, May 22nd. The construction company reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $0.17. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. The company had revenue of $508.36 million during the quarter, compared to analyst estimates of $504.15 million. As a group, equities research analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Cavco Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. 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.

Insider Activity at Cavco Industries

In other news, Director David A. Greenblatt sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the transaction, the director now owns 15,286 shares of the company’s stock, valued at approximately $8,084,459.68. The trade was a 20.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

Cavco Industries Company 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.