Crown Advisors Management Inc. Invests $5.35 Million in Cavco Industries, Inc. (NASDAQ:CVCO)

Crown Advisors Management Inc. bought a new position in Cavco Industries, Inc. (NASDAQ:CVCO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,000 shares of the construction company’s stock, valued at approximately $5,354,000. Cavco Industries comprises 3.4% of Crown Advisors Management Inc.’s holdings, making the stock its 8th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CVCO. Xponance Inc. lifted its stake in Cavco Industries by 9.4% in the fourth quarter. Xponance Inc. now owns 596 shares of the construction company’s stock valued at $266,000 after purchasing an additional 51 shares during the last quarter. Intech Investment Management LLC lifted its stake in Cavco Industries by 91.4% in the fourth quarter. Intech Investment Management LLC now owns 4,160 shares of the construction company’s stock valued at $1,856,000 after purchasing an additional 1,986 shares during the last quarter. Cibc World Markets Corp purchased a new position in Cavco Industries in the fourth quarter valued at approximately $345,000. Commonwealth Equity Services LLC purchased a new position in Cavco Industries in the fourth quarter valued at approximately $308,000. Finally, Avantax Advisory Services Inc. lifted its stake in Cavco Industries by 8.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 720 shares of the construction company’s stock valued at $321,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVCO shares. Wedbush reiterated a “neutral” rating and issued a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd.

Insider Buying and Selling at Cavco Industries

In other news, Director Susan L. Blount sold 750 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $471.70, for a total value of $353,775.00. Following the transaction, the director now owns 2,836 shares of the company’s stock, valued at approximately $1,337,741.20. This represents a 20.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David A. Greenblatt sold 4,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 15,286 shares in the company, valued at approximately $8,084,459.68. The trade was a 20.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,644 shares of company stock valued at $4,494,608 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Cavco Industries Price Performance

Shares of CVCO stock opened at $500.61 on Wednesday. The company’s fifty day simple moving average is $502.79 and its two-hundred day simple moving average is $468.39. Cavco Industries, Inc. has a 1 year low of $331.08 and a 1 year high of $544.08. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 24.64 and a beta of 1.34.

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

Cavco Industries Company 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.