Insider Selling: Cavco Industries, Inc. (NASDAQ:CVCO) Director Sells $364,170.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Susan L. Blount sold 750 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the sale, the director now directly owns 2,086 shares of the company’s stock, valued at $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Cavco Industries Stock Performance

Shares of CVCO stock opened at $442.22 on Friday. The firm has a fifty day moving average of $467.14 and a 200-day moving average of $415.36. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 25.00 and a beta of 1.29. Cavco Industries, Inc. has a 52-week low of $304.10 and a 52-week high of $544.08.

Cavco Industries (NASDAQ:CVCO) last posted 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 firm had revenue of $507.46 million during the quarter, compared to analyst estimates 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 business posted $4.76 earnings per share. On average, sell-side analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Institutional Trading of Cavco Industries

Several institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in shares of Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after purchasing an additional 99 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after purchasing an additional 82 shares during the last quarter. Avior Wealth Management LLC acquired a new position in Cavco Industries in the third quarter valued at about $64,000. GAMMA Investing LLC grew its stake in Cavco Industries by 30.2% during the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after buying an additional 64 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Cavco Industries during the second quarter worth approximately $138,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target for the company. in a report on Tuesday, December 3rd. StockNews.com downgraded Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Craig Hallum upped their price target on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th.

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.