Cavco Industries, Inc. (NASDAQ:CVCO) Short Interest Update

Cavco Industries, Inc. (NASDAQ:CVCO) saw a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 180,300 shares, a growth of 20.0% from the November 15th total of 150,300 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average daily volume of 62,900 shares, the short-interest ratio is presently 2.9 days.

Insiders Place Their Bets

In related news, Director Julia Sze sold 125 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $503.31, for a total value of $62,913.75. Following the completion of the transaction, the director now directly owns 2,736 shares in the company, valued at approximately $1,377,056.16. This represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Paul Bigbee sold 100 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was 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 in the company, valued at approximately $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 350 shares of company stock valued at $171,472 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted 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 valued at $35,000 after purchasing an additional 99 shares during the period. Farther Finance Advisors LLC boosted its position in Cavco Industries by 390.5% in the 3rd 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 acquired a new stake in shares of Cavco Industries during the third quarter valued at about $64,000. GAMMA Investing LLC increased its position 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 worth $118,000 after acquiring an additional 64 shares during the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Cavco Industries in the second quarter worth about $138,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CVCO shares. 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 downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Wedbush downgraded Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective for the company. in a report on Tuesday, December 3rd.

Cavco Industries Price Performance

NASDAQ CVCO opened at $484.66 on Monday. The business’s 50-day simple moving average is $463.95 and its 200-day simple moving average is $412.71. The firm has a market capitalization of $3.93 billion, a P/E ratio of 27.40 and a beta of 1.29. Cavco Industries has a 1-year low of $304.10 and a 1-year high of $544.08.

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