Steven G. Bunger Sells 4,000 Shares of Cavco Industries, Inc. (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Steven G. Bunger sold 4,000 shares of Cavco Industries stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the sale, the director now owns 6,547 shares of the company’s stock, valued at $2,679,032.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cavco Industries Stock Performance

Shares of NASDAQ CVCO opened at $431.60 on Wednesday. The stock has a 50 day moving average price of $395.14 and a 200 day moving average price of $375.74. The stock has a market capitalization of $3.57 billion, a PE ratio of 23.52 and a beta of 1.24. Cavco Industries, Inc. has a 52 week low of $233.84 and a 52 week high of $437.02.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). The firm had revenue of $477.60 million during the quarter, compared to analyst estimates of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same quarter in the prior year, the business earned $5.29 EPS. As a group, research analysts forecast that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Wall Street Analyst Weigh In

CVCO has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Cavco Industries in a research note on Friday, August 2nd. Craig Hallum upped their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a report on Monday, August 5th.

Hedge Funds Weigh In On Cavco Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new position in Cavco Industries in the 4th quarter valued at about $21,059,000. Capital World Investors raised its position in Cavco Industries by 2.9% during the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock valued at $241,800,000 after purchasing an additional 17,125 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Cavco Industries in the 2nd quarter valued at $4,245,000. Confluence Investment Management LLC bought a new position in shares of Cavco Industries in the 1st quarter valued at $4,679,000. Finally, AYAL Capital Advisors Ltd lifted its position in shares of Cavco Industries by 61.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock worth $10,337,000 after buying an additional 11,361 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors and hedge funds.

About Cavco Industries

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.