Cavco Industries, Inc. (NASDAQ:CVCO) Short Interest Update

Cavco Industries, Inc. (NASDAQ:CVCO) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 186,700 shares, a decline of 10.8% from the August 31st total of 209,400 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average daily volume of 69,500 shares, the days-to-cover ratio is presently 2.7 days.

Insider Activity

In related news, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at $433,913.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Steven K. Like sold 575 shares of Cavco Industries stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total value of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares in the company, valued at approximately $460,108.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now directly owns 1,081 shares in the company, valued at $433,913.40. The disclosure for this sale can be found here. Insiders have sold 4,663 shares of company stock valued at $1,882,930 in the last ninety days. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cavco Industries

Several institutional investors have recently bought and sold shares of CVCO. Blue Trust Inc. boosted its holdings in Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after acquiring an additional 99 shares during the last quarter. Mather Group LLC. purchased a new position in Cavco Industries during the first quarter worth about $60,000. nVerses Capital LLC bought a new position in shares of Cavco Industries during the 2nd quarter worth approximately $138,000. SG Americas Securities LLC purchased a new position in shares of Cavco Industries in the 1st quarter worth approximately $197,000. Finally, TradeLink Capital LLC bought a new position in shares of Cavco Industries in the second quarter valued at approximately $202,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Price Performance

Shares of NASDAQ CVCO opened at $428.24 on Tuesday. The company has a 50-day moving average price of $402.76 and a 200-day moving average price of $379.14. The stock has a market capitalization of $3.54 billion, a P/E ratio of 23.34 and a beta of 1.24. Cavco Industries has a 1 year low of $233.84 and a 1 year high of $444.90.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The company had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. During the same period in the prior year, the firm posted $5.29 earnings per share. As a group, equities research analysts anticipate that Cavco Industries will post 17.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVCO. Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Cavco Industries in a report on Friday, August 2nd. Craig Hallum boosted their target price on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research report on Monday, August 5th.

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.