Cavco Industries Inc. (NASDAQ:CVCO) has seen several investors make moves in their positions in the company.
Granite Investment Partners, LLC decreased its stake in the company by 24.3 percent during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission.
The firm owned 26,194 shares after selling 8,393 shares during the period worth $2,595,000.
Other institutional investor moves include:
- Teacher Retirement System of Texas increased its stake by 14.3 percent in the second quarter.
- Mason Street Advisors, LLC purchased a new stake in the company during the second quarter valued at approximately $152,000.
- JPMorgan Chase & Co. increased its stake by 1,925.30 percent in the second quarter. JPMorgan Chase now owns 2,005 shares of the company’s stock valued at $188,000.
- BNP Paribas Arbitrage SA purchased a stake in the company during the second quarter valued at approximately $243,000.
- Capstone Asset Management Co. purchased a stake in the company during the second quarter valued at approximately $249,000.
According to the Cerbat Gem, hedge funds and other institutional investors own 94.88 percent of Cavco stock.
Cavco has earned an average broker rating score of “hold” from Zacks Investment Research, and brokerages have set a 12-month consensus price target of $114.00 for the company.
Sidoti issued a “neutral” rating for Cavco and a $114.00 price target on the stock in a report on September 7th.
As Daily Business News readers are aware, Phoenix, AZ-based Cavco Industries is one of the largest producers of manufactured homes, as well as a builder of modular and park model homes, vacation cabins and commercial structures. Factory-built homes are designed and produced under such brand names as Cavco Homes, Fleetwood Homes and Palm Harbor Homes.
Cavco was also recently featured as British insurance giant Legal & General made moves in its stake in the company, and is one of the manufactured home industry connected stocks tracked every business day by the Daily Business News, with the most recent report, linked here.
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Submitted by RC Williams to the Daily Business News for MHProNews.