5 Stocks to Buy According to Richard Scott Greeder’s Broad Bay Capital

In this article, we discuss 5 stocks to buy according to Richard Scott Greeder’s Broad Bay Capital. If you want to read our detailed analysis of Greeder’s investment philosophy and performance, go directly to 10 Stocks to Buy According to Richard Scott Greeder’s Broad Bay Capital.

5. Cavco Industries, Inc. (NASDAQ:CVCO)

Broad Bay Capital’s Stake Value: $52,525,000
Percentage of Broad Bay Capital’s 13F Portfolio: 8.22%
Number of Hedge Fund Holders: 21

Cavco Industries, Inc. (NASDAQ:CVCO) manufactures factory-built housing items and sells them mainly via a network of privately owned and business-owned merchants. Broad Bay Capital started building its position in Cavco Industries, Inc. (NASDAQ:CVCO) during the fourth quarter of 2018, buying shares worth over $13.04 million. The hedge fund owned shares worth roughly $52.53 million at the end of Q2 2022. The company represented 8.22% of the hedge fund’s 13F portfolio.

On August 8, Craig-Hallum analyst Greg Palm maintained a ‘Buy’ rating on Cavco Industries, Inc. (NASDAQ:CVCO) while increasing his price objective to $335 from $322. The analyst noted that Cavco Industries, Inc. (NASDAQ:CVCO)’s Q1 performance was good, with revenue and profitability above forecasts.

Cavco Industries, Inc. (NASDAQ:CVCO) experienced a decline in hedge fund sentiment in Q2 2022, as 21 hedge funds tracked by Insider Monkey reported owning stakes in the company at the end of the period, compared to 26 in the preceding quarter. The aggregate value of stakes held by 21 hedge funds stood at more than $183.12 million.