Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 9.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,366 shares of the construction company’s stock after selling 466 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Cavco Industries were worth $1,870,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP grew its stake in Cavco Industries by 90.4% in the 3rd quarter. GSA Capital Partners LLP now owns 3,404 shares of the construction company’s stock worth $1,458,000 after acquiring an additional 1,616 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Cavco Industries in the third quarter valued at $208,000. Marks Group Wealth Management Inc lifted its position in Cavco Industries by 38.7% during the third quarter. Marks Group Wealth Management Inc now owns 11,137 shares of the construction company’s stock worth $4,769,000 after buying an additional 3,106 shares during the period. Amalgamated Bank grew its holdings in Cavco Industries by 1.2% in the 3rd quarter. Amalgamated Bank now owns 2,428 shares of the construction company’s stock valued at $1,040,000 after buying an additional 29 shares during the period. Finally, Westbourne Investment Advisors Inc. acquired a new position in shares of Cavco Industries during the 3rd quarter valued at about $310,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Stock Performance

CVCO opened at $465.23 on Friday. Cavco Industries, Inc. has a 1 year low of $271.48 and a 1 year high of $484.80. The firm has a 50 day moving average price of $433.31 and a 200 day moving average price of $393.85. The company has a market cap of $3.77 billion, a PE ratio of 26.30 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The company had revenue of $507.46 million during the quarter, compared to analyst estimates of $480.10 million. During the same quarter in the prior year, the business earned $4.76 earnings per share. On average, sell-side analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several research analyst reports. Craig Hallum upped their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Wedbush lifted their target price on Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th.

Insider Activity at Cavco Industries

In other news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,081 shares in the company, valued at approximately $433,913.40. This represents a 7.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now directly owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,213 shares of company stock worth $1,729,458. Corporate insiders own 1.60% of the company’s stock.

About Cavco Industries

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.