Brasada Capital Management LP Invests $5.46 Million in Cavco Industries, Inc. $CVCO

Brasada Capital Management LP purchased a new stake in Cavco Industries, Inc. (NASDAQ:CVCO) in the second quarter, Holdings Channel.com reports. The firm purchased 8,885 shares of the construction company’s stock, valued at approximately $5,459,000.

A number of other institutional investors have also made changes to their positions in CVCO. Silvant Capital Management LLC bought a new position in shares of Cavco Industries in the second quarter worth about $25,000. Global Retirement Partners LLC bought a new stake in shares of Cavco Industries during the second quarter valued at approximately $28,000. Allworth Financial LP bought a new stake in shares of Cavco Industries during the second quarter valued at approximately $44,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Cavco Industries in the fourth quarter valued at approximately $46,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Cavco Industries in the fourth quarter valued at approximately $50,000. 95.56% of the stock is owned by institutional investors.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $570.27 on Friday. Cavco Industries, Inc. has a one year low of $443.33 and a one year high of $713.01. The company has a 50 day moving average of $582.80 and a 200-day moving average of $546.65. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 24.82 and a beta of 1.29.

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

Insiders Place Their Bets

In other news, EVP Allison Aden sold 1,473 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $625.00, for a total value of $920,625.00. Following the transaction, the executive vice president directly owned 9,147 shares in the company, valued at $5,716,875. This trade represents a 13.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard A. Kerley sold 500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $588.76, for a total value of $294,380.00. Following the completion of the transaction, the director owned 6,169 shares in the company, valued at $3,632,060.44. This represents a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,553 shares of company stock valued at $2,159,368. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVCO. UBS Group initiated coverage on shares of Cavco Industries in a research report on Friday, June 5th. They issued a “buy” rating and a $700.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research note on Friday, August 21st. Zelman & Associates downgraded Cavco Industries from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 6th. Finally, Zacks Research lowered Cavco Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $700.00.

About Cavco Industries

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.