Cavco Industries, Inc. (NASDAQ:CVCO) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in Cavco Industries, Inc. (NASDAQ:CVCO) by 8.3% in the fourth quarter, Holdings Channel reports. The firm owned 4,403 shares of the construction company’s stock after selling 400 shares during the period. Corebridge Financial Inc.’s holdings in Cavco Industries were worth $1,965,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new stake in Cavco Industries during the 4th quarter worth $67,000. Smartleaf Asset Management LLC grew its position in Cavco Industries by 387.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the construction company’s stock worth $72,000 after buying an additional 128 shares during the period. Blue Trust Inc. increased its stake in Cavco Industries by 28.9% in the 4th quarter. Blue Trust Inc. now owns 245 shares of the construction company’s stock valued at $105,000 after purchasing an additional 55 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Cavco Industries by 15.2% in the fourth quarter. GAMMA Investing LLC now owns 318 shares of the construction company’s stock valued at $142,000 after buying an additional 42 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Cavco Industries by 35.2% in the fourth quarter. KBC Group NV now owns 330 shares of the construction company’s stock valued at $147,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Insider Activity

In other Cavco Industries news, insider Jack S. Brandom sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $538.00, for a total transaction of $538,000.00. Following the sale, the insider now owns 1,176 shares in the company, valued at $632,688. This represents a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan L. Blount sold 750 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was 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 in the company, valued at $1,337,741.20. This trade represents a 20.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,644 shares of company stock worth $4,494,608. 1.60% of the stock is currently owned by insiders.

Cavco Industries Price Performance

NASDAQ:CVCO opened at $516.13 on Wednesday. Cavco Industries, Inc. has a 12 month low of $331.08 and a 12 month high of $544.08. The firm has a market capitalization of $4.18 billion, a PE ratio of 25.40 and a beta of 1.34. The business’s 50-day moving average is $515.49 and its two-hundred day moving average is $476.56.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share 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 analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Analyst Ratings Changes

CVCO has been the topic of several recent research reports. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Wedbush reiterated a “neutral” rating and issued a $550.00 price target (up previously from $480.00) on shares of Cavco Industries in a report on Monday, February 3rd.

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.