Insider Selling: Cavco Industries, Inc. (NASDAQ:CVCO) Director Sells 125 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Julia Sze sold 125 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the completion of the transaction, the director now directly owns 2,861 shares in the company, valued at approximately $1,312,283.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Cavco Industries Trading Down 2.9 %

NASDAQ CVCO traded down $14.01 during trading on Tuesday, reaching $467.61. The company’s stock had a trading volume of 58,009 shares, compared to its average volume of 65,016. The business has a 50-day moving average price of $427.96 and a 200-day moving average price of $391.53. Cavco Industries, Inc. has a 1-year low of $254.11 and a 1-year high of $484.80. The stock has a market capitalization of $3.79 billion, a PE ratio of 27.23 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.58. The business had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter in the prior year, the company earned $4.76 EPS. As a group, analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wedbush raised their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Craig Hallum raised their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CVCO. Assenagon Asset Management S.A. raised its holdings in shares of Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after acquiring an additional 57,278 shares during the last quarter. Cerity Partners LLC grew its stake in Cavco Industries by 91.8% in the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after purchasing an additional 22,451 shares during the period. Capital World Investors boosted its holdings in Cavco Industries by 2.9% in the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after acquiring an additional 17,125 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Cavco Industries by 147.0% in the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after acquiring an additional 13,331 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in shares of Cavco Industries during the second quarter worth about $4,245,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.

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.