53,930 Shares in Cavco Industries, Inc. $CVCO Bought by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. acquired a new stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 53,930 shares of the construction company’s stock, valued at approximately $33,133,000. Cavco Industries makes up 1.6% of Punch & Associates Investment Management Inc.’s holdings, making the stock its 16th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Silvant Capital Management LLC bought a new stake in shares of Cavco Industries during the 2nd quarter valued at about $25,000. Global Retirement Partners LLC purchased a new position in shares of Cavco Industries during the second quarter worth about $28,000. Allworth Financial LP bought a new position in shares of Cavco Industries in the second quarter worth approximately $44,000. Aster Capital Management DIFC Ltd bought a new position in shares of Cavco Industries in the fourth quarter worth approximately $46,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Cavco Industries in the fourth quarter valued at approximately $50,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Stock Performance

Shares of CVCO opened at $577.36 on Thursday. Cavco Industries, Inc. has a fifty-two week low of $443.33 and a fifty-two week high of $713.01. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 25.12 and a beta of 1.29. The firm has a 50 day moving average price of $583.42 and a 200-day moving average price of $546.42.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, July 30th. The construction company reported $5.43 EPS for the quarter, missing the consensus estimate of $5.69 by ($0.26). The business had revenue of $609.96 million for the quarter, compared to the consensus estimate of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. As a group, equities research analysts predict that Cavco Industries, Inc. will post 22.75 earnings per share for the current year.

Insider Buying and Selling at Cavco Industries

In other news, Director Richard A. Kerley sold 500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total transaction of $294,380.00. Following the transaction, the director directly owned 6,169 shares of the company’s stock, valued at approximately $3,632,060.44. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Allison Aden sold 1,473 shares of Cavco Industries 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 completion of the transaction, the executive vice president owned 9,147 shares in the company, valued at approximately $5,716,875. This represents a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,553 shares of company stock worth $2,159,368 over the last three months. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Zacks Research lowered shares of Cavco Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Zelman & Associates lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating in a report on Thursday, August 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Cavco Industries in a research report on Friday, August 21st. Finally, UBS Group assumed coverage on shares of Cavco Industries in a report on Friday, June 5th. They set a “buy” rating and a $700.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cavco Industries presently has a consensus rating of “Hold” and a consensus target price of $700.00.

Cavco Industries Company 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.