ProShare Advisors LLC Raises Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

ProShare Advisors LLC increased its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 42.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,492 shares of the construction company’s stock after acquiring an additional 747 shares during the period. ProShare Advisors LLC’s holdings in Cavco Industries were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in Cavco Industries in the 4th quarter worth $67,000. Smartleaf Asset Management LLC raised its stake 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 acquiring an additional 128 shares during the last quarter. Blue Trust Inc. raised its stake in Cavco Industries by 28.9% in the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock worth $105,000 after acquiring an additional 55 shares during the last quarter. KBC Group NV raised its stake in Cavco Industries by 35.2% in the 4th quarter. KBC Group NV now owns 330 shares of the construction company’s stock worth $147,000 after acquiring an additional 86 shares during the last quarter. Finally, ClearAlpha Technologies LP purchased a new position in shares of Cavco Industries during the 4th quarter valued at about $204,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Activity

In other news, Director David A. Greenblatt sold 4,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 15,286 shares in the company, valued at $8,084,459.68. This trade represents a 20.74% decrease in their position. The transaction 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.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $499.23 on Friday. The stock has a 50-day simple moving average of $501.46 and a two-hundred day simple moving average of $493.86. The firm has a market capitalization of $4.05 billion, a P/E ratio of 24.57 and a beta of 1.29. Cavco Industries, Inc. has a fifty-two week low of $331.08 and a fifty-two week high of $549.99.

Cavco Industries (NASDAQ:CVCO) last posted its 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 firm had revenue of $508.36 million for the quarter, compared to analysts’ expectations of $504.15 million. As a group, analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CVCO shares. Wall Street Zen lowered Cavco Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Wedbush reiterated a “neutral” rating and set a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd.

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.