Cavco Industries (NASDAQ:CVCO) Shares Down 0.5% – Here’s What Happened

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) dropped 0.5% during mid-day trading on Wednesday . The stock traded as low as $467.47 and last traded at $469.06. Approximately 2,035 shares traded hands during trading, a decline of 97% from the average daily volume of 64,119 shares. The stock had previously closed at $471.33.

Analyst Ratings Changes

Several brokerages recently weighed in on CVCO. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Wedbush upped their price target on Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Finally, Craig Hallum raised their price objective on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

Cavco Industries Stock Up 0.0 %

The stock’s 50-day simple moving average is $435.92 and its 200 day simple moving average is $395.58. The firm has a market cap of $3.82 billion, a P/E ratio of 26.52 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. During the same quarter in the prior year, the company earned $4.76 EPS. On average, research analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the transaction, the director now directly owns 6,547 shares of the company’s stock, valued at $2,679,032.40. This represents a 37.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Julia Sze sold 125 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the transaction, the director now owns 2,861 shares in the company, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,213 shares of company stock worth $1,729,458. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new position in shares of Cavco Industries in the third quarter valued at $637,000. Coldstream Capital Management Inc. acquired a new stake in shares of Cavco Industries in the 3rd quarter worth about $213,000. Geode Capital Management LLC lifted its position in 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 acquiring an additional 12,822 shares in the last quarter. Barclays PLC boosted its stake in Cavco Industries by 162.0% during the 3rd quarter. Barclays PLC now owns 17,234 shares of the construction company’s stock valued at $7,381,000 after purchasing an additional 10,656 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in Cavco Industries by 20.5% during the 3rd quarter. XTX Topco Ltd now owns 1,430 shares of the construction company’s stock valued at $612,000 after purchasing an additional 243 shares during the last quarter. Institutional investors 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.