Squarepoint Ops LLC Makes New Investment in Cavco Industries, Inc. (NASDAQ:CVCO)

Squarepoint Ops LLC acquired a new position in shares of Cavco Industries, Inc. (NASDAQ:CVCO) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 9,347 shares of the construction company’s stock, valued at approximately $1,795,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Nuveen Asset Management LLC acquired a new stake in shares of Cavco Industries in the 2nd quarter valued at $22,232,000. Bank of New York Mellon Corp raised its position 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 worth $35,062,000 after acquiring an additional 72,417 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in shares of Cavco Industries during the second quarter valued at $9,882,000. Russell Investments Group Ltd. acquired a new position in shares of Cavco Industries during the second quarter valued at $6,854,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Cavco Industries by 4.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 857,854 shares of the construction company’s stock valued at $135,146,000 after acquiring an additional 33,105 shares during the period. Hedge funds and other institutional investors own 92.96% of the company’s stock.

Cavco Industries stock opened at $202.61 on Monday. The company has a current ratio of 2.87, a quick ratio of 2.19 and a debt-to-equity ratio of 0.04. Cavco Industries, Inc. has a 1 year low of $112.00 and a 1 year high of $210.00. The company has a market cap of $1.87 billion, a PE ratio of 25.34 and a beta of 1.57. The company’s 50-day moving average is $197.19 and its two-hundred day moving average is $177.39.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.16 by $0.09. The company had revenue of $268.70 million during the quarter, compared to analysts’ expectations of $267.37 million. Cavco Industries had a net margin of 7.50% and a return on equity of 13.79%. Cavco Industries’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.67 EPS.

Separately, BidaskClub cut Cavco Industries from a “buy” rating to a “hold” rating in a report on Thursday, October 31st.

Cavco Industries Profile

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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