Crown Advisors Management Inc. Purchases New Position in Cavco Industries, Inc. $CVCO

Crown Advisors Management Inc. acquired a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 5,000 shares of the construction company’s stock, valued at approximately $3,072,000. Cavco Industries accounts for approximately 1.7% of Crown Advisors Management Inc.’s holdings, making the stock its 21st biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Persistent Asset Partners Ltd bought a new stake in shares of Cavco Industries during the second quarter worth $52,000. OneDigital Investment Advisors LLC acquired a new position in shares of Cavco Industries during the second quarter worth $383,000. Global Retirement Partners LLC bought a new position in shares of Cavco Industries in the 2nd quarter valued at $28,000. Bank of New York Mellon Corp acquired a new stake in shares of Cavco Industries during the 2nd quarter valued at $28,096,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Cavco Industries during the 2nd quarter valued at $1,872,000. Institutional investors own 95.56% of the company’s stock.

Analyst Upgrades and Downgrades

CVCO has been the subject of a number of recent research reports. Zacks Research cut Cavco Industries from a “hold” rating to a “strong sell” rating in a report on Monday, August 3rd. UBS Group assumed coverage on Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 price target on the stock. Zelman & Associates downgraded Cavco Industries from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $700.00.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $605.05 on Monday. Cavco Industries, Inc. has a 52 week low of $443.33 and a 52 week high of $713.01. The firm has a market cap of $4.65 billion, a PE ratio of 26.33 and a beta of 1.29. The firm’s fifty day moving average is $583.18 and its 200-day moving average is $543.91.

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

Insiders Place Their Bets

In other Cavco Industries news, EVP Allison Aden sold 1,473 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $625.00, for a total value of $920,625.00. Following the sale, the executive vice president owned 9,147 shares in the company, valued at approximately $5,716,875. The trade was a 13.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Paul Bigbee sold 200 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $537.75, for a total value of $107,550.00. Following the completion of the sale, the chief accounting officer directly owned 1,105 shares of the company’s stock, valued at approximately $594,213.75. The trade was a 15.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,442 shares of company stock valued at $2,080,238. 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.