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

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

Insider Transactions at Cavco Industries

In related news, CAO Paul Bigbee sold 88 shares of Cavco Industries stock in a transaction that occurred on 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 directly owns 1,081 shares of the company’s stock, valued at $433,913.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the sale, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at $433,913.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Steven K. Like sold 575 shares of Cavco Industries stock in a transaction dated 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 transaction, the senior vice president now owns 1,255 shares in the company, valued at approximately $460,108.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,663 shares of company stock valued at $1,882,930. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

A number of large investors have recently modified their holdings of CVCO. Blue Trust Inc. lifted its stake 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. Mather Group LLC. acquired a new position in Cavco Industries in the 1st quarter valued at about $60,000. nVerses Capital LLC purchased a new stake in shares of Cavco Industries in the 2nd quarter valued at approximately $138,000. SG Americas Securities LLC purchased a new stake in shares of Cavco Industries during the 1st quarter valued at approximately $197,000. Finally, TradeLink Capital LLC acquired a new position in Cavco Industries in the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $425.00 price target on shares of Cavco Industries in a research report on Friday, August 2nd. Craig Hallum boosted their price target on Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

Cavco Industries Trading Up 1.3 %

NASDAQ CVCO opened at $431.82 on Friday. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 23.53 and a beta of 1.24. The stock has a 50-day moving average of $402.76 and a 200 day moving average of $379.07. Cavco Industries has a twelve month low of $233.84 and a twelve month high of $444.90.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (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 firm had revenue of $477.60 million during the quarter, compared to analyst estimates of $487.80 million. During the same period in the prior year, the firm earned $5.29 earnings per share. Equities analysts predict that Cavco Industries will post 17.35 EPS for the current fiscal year.

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.