Victory Capital Management Inc. Has $2.88 Million Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Victory Capital Management Inc. increased its stake in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,323 shares of the construction company’s stock after purchasing an additional 630 shares during the period. Victory Capital Management Inc.’s holdings in Cavco Industries were worth $2,881,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Verus Capital Partners LLC boosted its position in shares of Cavco Industries by 4.5% during the second quarter. Verus Capital Partners LLC now owns 653 shares of the construction company’s stock worth $226,000 after purchasing an additional 28 shares in the last quarter. Anchor Capital Advisors LLC lifted its holdings in Cavco Industries by 0.7% during the first quarter. Anchor Capital Advisors LLC now owns 4,951 shares of the construction company’s stock worth $1,976,000 after acquiring an additional 32 shares in the last quarter. Seven Eight Capital LP grew its stake in Cavco Industries by 3.8% in the fourth quarter. Seven Eight Capital LP now owns 1,399 shares of the construction company’s stock valued at $485,000 after acquiring an additional 51 shares during the period. ProShare Advisors LLC increased its holdings in shares of Cavco Industries by 3.3% in the first quarter. ProShare Advisors LLC now owns 1,676 shares of the construction company’s stock worth $669,000 after acquiring an additional 54 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares during the period. Institutional investors own 95.56% of the company’s stock.

Insider Activity

In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Cavco Industries news, Director Steven G. Bunger sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the transaction, the director now owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Steven K. Like sold 575 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total value of $210,806.50. Following the completion of the sale, the senior vice president now directly owns 1,255 shares of the company’s stock, valued at approximately $460,108.10. The disclosure for this sale can be found here. Insiders have sold 4,663 shares of company stock worth $1,882,930 over the last ninety days. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Craig Hallum boosted their price objective on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Cavco Industries in a report on Friday, August 2nd.

Cavco Industries Price Performance

CVCO opened at $431.60 on Wednesday. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 23.52 and a beta of 1.24. The business’s 50-day moving average price is $395.14 and its two-hundred day moving average price is $375.74. Cavco Industries, Inc. has a 1 year low of $233.84 and a 1 year high of $437.02.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. The firm had revenue of $477.60 million during the quarter, compared to analyst estimates of $487.80 million. During the same period in the prior year, the business posted $5.29 EPS. Sell-side analysts anticipate that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

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.