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

Cavco Industries, Inc. (NASDAQ:CVCO) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 162,900 shares, a growth of 13.0% from the October 15th total of 144,200 shares. Based on an average trading volume of 63,300 shares, the days-to-cover ratio is presently 2.6 days. Currently, 2.1% of the company’s stock are sold short.

Cavco Industries Stock Up 0.2 %

Cavco Industries stock traded up $0.89 during midday trading on Monday, reaching $466.12. The stock had a trading volume of 7,035 shares, compared to its average volume of 64,397. Cavco Industries has a 12 month low of $271.48 and a 12 month high of $484.80. The firm’s 50-day moving average price is $433.31 and its 200 day moving average price is $394.26. The firm has a market capitalization of $3.78 billion, a PE ratio of 26.38 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (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 in the previous year, the business posted $4.76 EPS. Equities research analysts expect that Cavco Industries will post 18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CVCO shares. Wedbush boosted their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a report on Friday, October 11th. StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Craig Hallum boosted 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.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Cavco Industries by 9,900.0% in the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after buying an additional 99 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after purchasing an additional 82 shares in the last quarter. Avior Wealth Management LLC bought a new position in Cavco Industries in the 3rd quarter valued at $64,000. GAMMA Investing LLC grew its position in shares of Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after purchasing an additional 64 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Cavco Industries in the second quarter worth $138,000. 95.56% of the stock is currently owned by institutional investors.

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.