Short Interest in Cavco Industries, Inc. (NASDAQ:CVCO) Expands By 6.9%

Cavco Industries, Inc. (NASDAQ:CVCO) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 192,800 shares, an increase of 6.9% from the November 30th total of 180,300 shares. Based on an average daily volume of 57,400 shares, the days-to-cover ratio is presently 3.4 days. Approximately 2.5% of the shares of the stock are short sold.

Insider Transactions at Cavco Industries

In related news, Director Susan L. Blount sold 750 shares of the stock in a transaction that occurred 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 directly owns 2,086 shares in the company, valued at $1,012,878.16. This represents a 26.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Paul Bigbee sold 100 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total value of $51,223.00. Following the sale, the chief accounting officer now directly owns 981 shares of the company’s stock, valued at $502,497.63. This represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,100 shares of company stock valued at $535,642. 1.60% of the stock is owned by insiders.

Institutional Trading of Cavco Industries

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its position in shares of Cavco Industries by 390.5% in the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after buying an additional 82 shares in the last quarter. Avior Wealth Management LLC acquired a new position in Cavco Industries during the third quarter worth about $64,000. Blue Trust Inc. lifted its holdings 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 worth $81,000 after acquiring an additional 90 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Cavco Industries by 30.2% in the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after acquiring an additional 64 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Cavco Industries in the 2nd quarter valued at approximately $138,000. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Price Performance

CVCO opened at $448.97 on Thursday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 25.38 and a beta of 1.29. The business’s 50-day moving average price is $469.98 and its two-hundred day moving average price is $421.87. Cavco Industries has a 1 year low of $304.10 and a 1 year high of $544.08.

Cavco Industries (NASDAQ:CVCO) last released 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 firm had revenue of $507.46 million for the quarter, compared to analysts’ expectations 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 previous year, the business posted $4.76 EPS. Sell-side analysts anticipate that Cavco Industries will post 18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVCO. Craig Hallum increased their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock 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 research report on Friday, December 20th. Finally, Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a report on Tuesday, December 3rd.

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.