Susan L. Blount Sells 750 Shares of Cavco Industries, Inc. (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Susan L. Blount sold 750 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total value of $353,775.00. Following the sale, the director now directly owns 2,836 shares of the company’s stock, valued at $1,337,741.20. The trade was a 20.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cavco Industries Stock Up 1.1 %

NASDAQ CVCO traded up $5.31 during mid-day trading on Friday, hitting $476.84. The stock had a trading volume of 69,091 shares, compared to its average volume of 54,126. The company has a 50 day simple moving average of $473.44 and a 200 day simple moving average of $428.76. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 26.96 and a beta of 1.33. Cavco Industries, Inc. has a 52-week low of $310.46 and a 52-week high of $544.08.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. During the same quarter last year, the business posted $4.76 earnings per share. As a group, equities analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a research report on Tuesday, December 3rd. Craig Hallum upped their price objective on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com downgraded Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

Hedge Funds Weigh In On Cavco Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sheets Smith Wealth Management increased its stake in shares of Cavco Industries by 3.4% during the 4th quarter. Sheets Smith Wealth Management now owns 2,084 shares of the construction company’s stock worth $930,000 after purchasing an additional 69 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. grew its holdings in Cavco Industries by 66.7% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the construction company’s stock valued at $1,116,000 after buying an additional 1,000 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Cavco Industries by 28.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 622 shares of the construction company’s stock worth $277,000 after acquiring an additional 138 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Cavco Industries in the fourth quarter worth $211,000. Finally, Park Avenue Securities LLC boosted its stake in shares of Cavco Industries by 30.8% during the fourth quarter. Park Avenue Securities LLC now owns 1,369 shares of the construction company’s stock valued at $611,000 after acquiring an additional 322 shares during the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Company Profile

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.