Proficio Capital Partners LLC Takes $5.38 Million Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Proficio Capital Partners LLC purchased a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,048 shares of the construction company’s stock, valued at approximately $5,376,000. Proficio Capital Partners LLC owned approximately 0.15% of Cavco Industries as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its stake in Cavco Industries by 8.5% during the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after purchasing an additional 5,620 shares during the last quarter. Cerity Partners LLC boosted its position in Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after acquiring an additional 22,451 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after acquiring an additional 82 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Cavco Industries by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 42,123 shares of the construction company’s stock valued at $18,797,000 after acquiring an additional 790 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new position in Cavco Industries in the 4th quarter worth approximately $425,000. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Cavco Industries Price Performance

Cavco Industries stock opened at $518.42 on Tuesday. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 25.51 and a beta of 1.35. The firm has a 50 day simple moving average of $488.39 and a 200-day simple moving average of $459.64. Cavco Industries, Inc. has a 1-year low of $331.08 and a 1-year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. Equities analysts expect that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CVCO has been the subject of a number of analyst reports. Wedbush restated a “neutral” rating and issued a $550.00 price target (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. Craig Hallum upped their target price on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, February 3rd.

Insider Buying and Selling

In other news, Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total value of $353,775.00. Following the completion of the sale, the director now directly owns 2,836 shares of the company’s stock, valued at approximately $1,337,741.20. The trade was a 20.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Julia Sze sold 125 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $503.31, for a total value of $62,913.75. Following the transaction, the director now directly owns 2,736 shares in the company, valued at approximately $1,377,056.16. The trade was a 4.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,519 shares of company stock valued at $2,806,172. 1.60% of the stock is currently owned by insiders.

Cavco Industries 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.