Cavco Industries, Inc. (NASDAQ:CVCO) Sees Large Growth in Short Interest

Cavco Industries, Inc. (NASDAQ:CVCO) saw a large growth in short interest in October. As of October 15th, there was short interest totalling 144,200 shares, a growth of 6.5% from the September 30th total of 135,400 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily volume of 64,500 shares, the short-interest ratio is presently 2.2 days.

Analysts Set New Price Targets

CVCO has been the subject of a number of recent research reports. Wedbush boosted their target price on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Craig Hallum lifted their price objective on Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

Cavco Industries Price Performance

Shares of Cavco Industries stock traded up $29.73 on Friday, hitting $439.53. 47,056 shares of the company’s stock traded hands, compared to its average volume of 64,279. The firm’s 50-day moving average price is $420.40 and its two-hundred day moving average price is $386.27. The stock has a market capitalization of $3.63 billion, a PE ratio of 25.66 and a beta of 1.24. Cavco Industries has a one year low of $248.84 and a one year high of $452.42.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results 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 net margin of 8.12% and a return on equity of 14.23%. The company had revenue of $477.60 million during the quarter, compared to the consensus estimate of $487.80 million. During the same period last year, the company earned $5.29 earnings per share. On average, analysts forecast that Cavco Industries will post 17.35 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Steven K. Like sold 575 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares in the company, valued at $460,108.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Steven K. Like sold 575 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares of the company’s stock, valued at $460,108.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,663 shares of company stock worth $1,882,930. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Several large investors have recently modified their holdings of CVCO. Blue Trust Inc. raised 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 during the period. Farther Finance Advisors LLC grew its holdings in shares of Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after buying an additional 82 shares in the last quarter. GAMMA Investing LLC raised its position in Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after buying an additional 64 shares during the last quarter. nVerses Capital LLC bought a new stake in Cavco Industries in the 2nd quarter valued at approximately $138,000. Finally, SG Americas Securities LLC bought a new stake in Cavco Industries in the 1st quarter valued at approximately $197,000. 95.56% of the stock is currently owned by 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.