Jane Street Group LLC Decreases Stock Holdings in Cavco Industries, Inc. (NASDAQ:CVCO)

Jane Street Group LLC lowered its holdings in Cavco Industries, Inc. (NASDAQ:CVCO) by 70.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,203 shares of the construction company’s stock after selling 10,263 shares during the period. Jane Street Group LLC’s holdings in Cavco Industries were worth $1,800,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in Cavco Industries by 1,610.3% during the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after buying an additional 57,278 shares during the period. Cerity Partners LLC grew its position in shares of Cavco Industries by 91.8% during the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock valued at $20,091,000 after acquiring an additional 22,451 shares during the period. Atom Investors LP purchased a new stake in shares of Cavco Industries during the 3rd quarter worth approximately $7,572,000. Harbor Capital Advisors Inc. raised its holdings in shares of Cavco Industries by 147.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock worth $9,592,000 after purchasing an additional 13,331 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of Cavco Industries in the 2nd quarter worth approximately $4,245,000. Institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

CVCO has been the subject of a number of recent research reports. StockNews.com downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a report on Tuesday, December 3rd. Finally, Craig Hallum lifted their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday, November 4th.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $450.62 on Thursday. Cavco Industries, Inc. has a fifty-two week low of $304.10 and a fifty-two week high of $544.08. The stock has a market cap of $3.65 billion, a PE ratio of 25.47 and a beta of 1.29. The stock has a fifty day moving average of $468.24 and a 200-day moving average of $418.40.

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

Insiders Place Their Bets

In other news, Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $485.56, for a total transaction of $364,170.00. Following the completion of the sale, the director now owns 2,086 shares in the company, valued at approximately $1,012,878.16. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julia Sze sold 125 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the transaction, the director now owns 2,861 shares in the company, valued at approximately $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,100 shares of company stock worth $535,642 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

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.