Cubist Systematic Strategies LLC Has $318,000 Stock Position in Cavco Industries, Inc. (NASDAQ:CVCO)

Cubist Systematic Strategies LLC reduced its holdings in shares of Cavco Industries, Inc. (NASDAQ:CVCO) by 43.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,017 shares of the construction company’s stock after selling 1,541 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Cavco Industries were worth $318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CVCO. Long Pond Capital LP acquired a new position in shares of Cavco Industries during the first quarter valued at about $10,063,000. Bank of New York Mellon Corp grew its holdings in shares of Cavco Industries by 48.2% during the second quarter. Bank of New York Mellon Corp now owns 222,556 shares of the construction company’s stock valued at $35,062,000 after buying an additional 72,417 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Cavco Industries during the second quarter valued at about $6,854,000. West Coast Financial LLC grew its holdings in shares of Cavco Industries by 142.7% during the second quarter. West Coast Financial LLC now owns 59,466 shares of the construction company’s stock valued at $9,368,000 after buying an additional 34,960 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Cavco Industries by 3.1% during the second quarter. Vanguard Group Inc. now owns 729,798 shares of the construction company’s stock valued at $114,972,000 after buying an additional 22,073 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

A number of research analysts have recently issued reports on CVCO shares. BidaskClub cut shares of Cavco Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Craig Hallum lifted their price objective on shares of Cavco Industries from $153.00 to $173.00 and gave the company a “hold” rating in a report on Wednesday, July 31st.

Shares of NASDAQ CVCO opened at $191.10 on Friday. The stock has a market capitalization of $1.72 billion, a P/E ratio of 24.89 and a beta of 1.59. The company has a 50-day moving average price of $188.69 and a 200-day moving average price of $157.24. Cavco Industries, Inc. has a 1 year low of $112.00 and a 1 year high of $243.02. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.73 and a quick ratio of 2.06.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Monday, July 29th. The construction company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.44. The firm had revenue of $264.04 million during the quarter, compared to analysts’ expectations of $256.38 million. Cavco Industries had a net margin of 7.16% and a return on equity of 13.48%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share.

About Cavco Industries

Cavco Industries, Inc designs, produces, and retails manufactured homes primarily in the United States. It operates in two segments, Factory-Built Housing and Financial Services. The company markets its manufactured homes under the Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes, Friendship Homes, Chariot Eagle, and Lexington Home brands.

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Institutional Ownership by Quarter for Cavco Industries (NASDAQ:CVCO)

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