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

Cavco Industries, Inc. (NASDAQ:CVCO)’s share price traded down 0.8% on Tuesday after an insider sold shares in the company. The company traded as low as $475.17 and last traded at $475.94. 7,465 shares traded hands during trading, a decline of 88% from the average session volume of 63,767 shares. The stock had previously closed at $479.76.

Specifically, Director Susan L. Blount sold 750 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $485.56, for a total transaction of $364,170.00. Following the sale, the director now owns 2,086 shares in the company, valued at approximately $1,012,878.16. This represents a 26.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

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

Cavco Industries Stock Down 2.2 %

The stock has a market capitalization of $3.59 billion, a P/E ratio of 25.00 and a beta of 1.29. The firm’s 50-day simple moving average is $466.66 and its 200 day simple moving average is $415.17.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million during 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 last year, the company posted $4.76 EPS. As a group, equities analysts anticipate that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Institutional Trading of Cavco Industries

Several hedge funds have recently added to or reduced their stakes in CVCO. Thrivent Financial for Lutherans raised its stake in shares of Cavco Industries by 37.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock valued at $3,274,000 after buying an additional 2,558 shares in the last quarter. Quest Partners LLC acquired a new position in Cavco Industries in the second quarter worth about $931,000. Fisher Asset Management LLC boosted its stake in Cavco Industries by 8.5% in the third quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after purchasing an additional 5,620 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Cavco Industries by 90.0% in the third quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock valued at $81,000 after buying an additional 90 shares in the last quarter. Finally, Cerity Partners LLC increased its position in Cavco Industries by 91.8% in the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock valued at $20,091,000 after acquiring an additional 22,451 shares in 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.