Cavco Industries (NASDAQ:CVCO) Shares Down 0.6% Following Insider Selling

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) traded down 0.6% during trading on Wednesday following insider selling activity. The stock traded as low as $516.72 and last traded at $518.19. 7,950 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 64,448 shares. The stock had previously closed at $521.23.

Specifically, CAO Paul Bigbee sold 100 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total transaction of $51,223.00. Following the sale, the chief accounting officer now directly owns 981 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

CVCO has been the subject of several research reports. Craig Hallum lifted their price target on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wedbush raised their target price on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th. Finally, StockNews.com raised shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

Cavco Industries Stock Down 1.0 %

The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 29.16 and a beta of 1.24. The stock has a fifty day moving average price of $446.39 and a two-hundred day moving average price of $400.98.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The company had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same period in the prior year, the firm earned $4.76 EPS. As a group, research analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Institutional Trading of Cavco Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. grew its position 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 valued at $35,000 after purchasing an additional 99 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Cavco Industries by 390.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after acquiring an additional 82 shares during the last quarter. Avior Wealth Management LLC purchased a new position in shares of Cavco Industries during the 3rd quarter worth about $64,000. GAMMA Investing LLC boosted its position 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 second quarter worth approximately $138,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

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.