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

Cavco Industries, Inc. (NASDAQ:CVCO) Director Susan L. Blount sold 750 shares of the company’s 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 transaction, the director now owns 2,086 shares in the company, valued at approximately $1,012,878.16. The trade was a 26.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cavco Industries Stock Down 1.3 %

CVCO opened at $473.29 on Wednesday. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 26.75 and a beta of 1.29. The firm has a 50 day moving average price of $466.09 and a 200-day moving average price of $414.91. Cavco Industries, Inc. has a twelve month low of $304.10 and a twelve month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS 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 for the quarter, compared to analysts’ expectations of $480.10 million. During the same period last year, the firm earned $4.76 earnings per share. As a group, analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Hedge Funds Weigh In On Cavco Industries

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after purchasing an additional 12,822 shares in the last quarter. FMR LLC increased its holdings in shares of Cavco Industries by 7.0% in the 3rd quarter. FMR LLC now owns 135,444 shares of the construction company’s stock valued at $58,002,000 after acquiring an additional 8,829 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Cavco Industries by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock worth $46,872,000 after acquiring an additional 5,935 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Cavco Industries by 8.5% during the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after purchasing an additional 5,620 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Cavco Industries by 1,610.3% during the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after purchasing an additional 57,278 shares in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective for the company. in a report on Tuesday, December 3rd. Craig Hallum increased their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th.

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.