Gabelli Funds LLC Sells 1,470 Shares of Cavco Industries, Inc. (NASDAQ:CVCO)
Written by Lucky Wilson | KGTO Writer on February 15, 2023
Gabelli Funds LLC cut its stake in Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,530 shares of the construction company’s stock after selling 1,470 shares during the quarter. Gabelli Funds LLC owned about 1.24% of Cavco Industries worth $22,743,000 as of its most recent SEC filing.
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Other institutional investors also recently bought and sold shares of the company. Financial Management Professionals Inc. increased its stake in shares of Cavco Industries by 53.0% during the third quarter. Financial Management Professionals Inc. now owns 355 shares of the construction company’s stock valued at $73,000 after buying an additional 123 shares during the period. Captrust Financial Advisors increased its stake in shares of Cavco Industries by 31.4% during the second quarter. Captrust Financial Advisors now owns 393 shares of the construction company’s stock valued at $77,000 after buying an additional 94 shares during the period. US Bancorp DE boosted its position in Cavco Industries by 25.2% during the first quarter. US Bancorp DE now owns 388 shares of the construction company’s stock valued at $94,000 after purchasing an additional 78 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Cavco Industries by 13,920.0% during the second quarter. Meeder Asset Management Inc. now owns 701 shares of the construction company’s stock valued at $137,000 after purchasing an additional 696 shares in the last quarter. Finally, Zebra Capital Management LLC bought a new stake in Cavco Industries during the first quarter valued at about $209,000. 93.32% of the stock is currently owned by institutional investors.
Cavco Industries Stock Performance
Shares of NASDAQ CVCO opened at $287.65 on Wednesday. The company has a market cap of $2.50 billion, a PE ratio of 10.52 and a beta of 1.19. The business has a 50-day simple moving average of $250.69 and a two-hundred day simple moving average of $236.82. Cavco Industries, Inc. has a fifty-two week low of $179.47 and a fifty-two week high of $299.36.
Cavco Industries (NASDAQ:CVCO – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The construction company reported $6.66 earnings per share for the quarter, topping the consensus estimate of $5.85 by $0.81. Cavco Industries had a return on equity of 27.69% and a net margin of 11.37%. The business had revenue of $500.60 million during the quarter, compared to the consensus estimate of $540.20 million. On average, sell-side analysts predict that Cavco Industries, Inc. will post 27.36 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research report on Tuesday. Craig Hallum lowered their price target on Cavco Industries from $335.00 to $290.00 in a report on Monday, November 7th. Finally, Wedbush raised their price target on Cavco Industries from $385.00 to $410.00 and gave the stock an “outperform” rating in a report on Monday, February 6th.
About Cavco Industries
Cavco Industries, Inc engages in the development of residential modular structures. It offers manufactured homes, modular homes, park model RVs and cabins, commercial structures, mortgage lending, and insurance. The firm’s brands include Cavco, Fleetwood, Palm Harbor and Fairmont, Friendship, Chariot Eagle and Destiny.
Read More
Want to see what other hedge funds are holding CVCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating).
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