Cavco Industries (NASDAQ:CVCO) Trading Down 0.8% on Insider Selling

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) dropped 0.8% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $475.17 and last traded at $475.94. Approximately 7,465 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 63,767 shares. The stock had previously closed at $479.76.

Specifically, Director Susan L. Blount sold 750 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $485.56, for a total transaction of $364,170.00. Following the transaction, the director now directly owns 2,086 shares of the company’s stock, valued at approximately $1,012,878.16. This trade represents a 26.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Analyst Upgrades and Downgrades

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

Cavco Industries Price Performance

The company has a 50-day moving average price of $466.66 and a 200 day moving average price of $415.17. The firm has a market capitalization of $3.59 billion, a PE ratio of 25.00 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO) last issued its 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 for the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same period in the previous year, the firm posted $4.76 earnings per share. As a group, research analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Institutional Trading of Cavco Industries

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

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.