Cavco Industries (NASDAQ:CVCO) Stock Price Down 4.2%

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price dropped 4.2% on Wednesday . The company traded as low as $345.81 and last traded at $347.00. Approximately 38,185 shares were traded during trading, a decline of 38% from the average daily volume of 61,273 shares. The stock had previously closed at $362.36.

Analysts Set New Price Targets

Separately, Wedbush raised their price target on Cavco Industries from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Monday.

Cavco Industries Stock Down 0.8 %

The firm has a market capitalization of $2.94 billion, a P/E ratio of 17.98 and a beta of 1.16. The business’s 50 day moving average is $375.22 and its 200-day moving average is $344.61.

Hedge Funds Weigh In On Cavco Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Anchor Capital Advisors LLC grew its position in Cavco Industries by 0.7% in the first quarter. Anchor Capital Advisors LLC now owns 4,951 shares of the construction company’s stock valued at $1,976,000 after acquiring an additional 32 shares during the last quarter. Moran Wealth Management LLC grew its holdings in shares of Cavco Industries by 5.4% during the 4th quarter. Moran Wealth Management LLC now owns 893 shares of the construction company’s stock valued at $310,000 after purchasing an additional 46 shares during the last quarter. SkyView Investment Advisors LLC increased its position in Cavco Industries by 3.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,554 shares of the construction company’s stock worth $413,000 after purchasing an additional 47 shares in the last quarter. Seven Eight Capital LP lifted its stake in Cavco Industries by 3.8% in the 4th quarter. Seven Eight Capital LP now owns 1,399 shares of the construction company’s stock valued at $485,000 after purchasing an additional 51 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in Cavco Industries by 3.3% in the first quarter. ProShare Advisors LLC now owns 1,676 shares of the construction company’s stock valued at $669,000 after buying an additional 54 shares in the last quarter. Institutional investors own 95.56% of the company’s stock.

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.