Aristides Capital LLC Sells 531 Shares of Cavco Industries, Inc. $CVCO

Aristides Capital LLC trimmed its stake in Cavco Industries, Inc. (NASDAQ:CVCO - Free Report) by 32.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,120 shares of the construction company's stock after selling 531 shares during the period. Aristides Capital LLC's holdings in Cavco Industries were worth $487,000 as of its most recent SEC filing.

• Cavco's Future Looks Bright as Affordable Housing Demand Soars

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. CWM LLC raised its stake in Cavco Industries by 44.0% in the first quarter. CWM LLC now owns 157 shares of the construction company's stock worth $82,000 after buying an additional 48 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Cavco Industries by 112.4% during the 1st quarter. Mackenzie Financial Corp now owns 1,164 shares of the construction company's stock worth $605,000 after acquiring an additional 616 shares during the period. Picton Mahoney Asset Management raised its position in shares of Cavco Industries by 74,233.3% in the 1st quarter. Picton Mahoney Asset Management now owns 2,230 shares of the construction company's stock worth $1,158,000 after acquiring an additional 2,227 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Cavco Industries in the 1st quarter valued at approximately $1,115,000. Finally, Premier Fund Managers Ltd purchased a new position in shares of Cavco Industries in the 1st quarter valued at approximately $688,000. Hedge funds and other institutional investors own 95.56% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CVCO shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Cavco Industries in a research note on Monday. Zacks Research raised shares of Cavco Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, November 5th. Finally, Wedbush reiterated a "neutral" rating and issued a $550.00 price target on shares of Cavco Industries in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $550.00.

• Cavco's Ratings Upside, Cheaper Homes Alternative?

Check Out Our Latest Analysis on CVCO

Cavco Industries Price Performance

CVCO opened at $608.60 on Thursday. The stock has a 50-day moving average price of $554.54 and a 200-day moving average price of $496.93. The firm has a market cap of $4.75 billion, a PE ratio of 26.38 and a beta of 1.21. Cavco Industries, Inc. has a 1 year low of $393.53 and a 1 year high of $613.77.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The construction company reported $6.55 EPS for the quarter, beating the consensus estimate of $6.30 by $0.25. The company had revenue of $556.53 million for the quarter, compared to the consensus estimate of $542.92 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. As a group, sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard A. Kerley sold 500 shares of the company's stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $568.99, for a total value of $284,495.00. Following the transaction, the director directly owned 6,669 shares of the company's stock, valued at approximately $3,794,594.31. This represents a 6.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Paul Bigbee sold 300 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $530.45, for a total value of $159,135.00. Following the sale, the chief accounting officer owned 774 shares in the company, valued at approximately $410,568.30. This represents a 27.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by insiders.

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.

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