Cavco Industries (NASDAQ:CVCO) Trading Down 2.5% on Insider Selling

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) traded down 2.5% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $518.81 and last traded at $519.59. 8,573 shares were traded during mid-day trading, a decline of 87% from the average session volume of 64,317 shares. The stock had previously closed at $533.17.

Specifically, CAO Paul Bigbee sold 100 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 981 shares of the company’s stock, valued at $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

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

Cavco Industries Stock Performance

The company’s 50-day moving average price is $446.39 and its 200 day moving average price is $400.98. The stock has a market capitalization of $4.18 billion, a PE ratio of 29.16 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to analysts’ expectations of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter in the previous year, the company earned $4.76 earnings per share. Analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Institutional Trading of Cavco Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. grew its position in Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after purchasing an additional 99 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Cavco Industries by 390.5% during 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 during the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Cavco Industries during the third quarter valued at approximately $64,000. GAMMA Investing LLC grew its holdings in shares of Cavco Industries by 30.2% during the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $118,000 after buying an additional 64 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Cavco Industries during the second quarter valued at approximately $138,000. 95.56% of the stock is owned by hedge funds and other 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.