Cavco Industries (NASDAQ:CVCO) Shares Down 2.5% After 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 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 stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the transaction, the chief accounting officer now directly owns 981 shares in the company, valued at $502,497.63. This represents a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Analyst Ratings Changes

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

Cavco Industries Trading Down 2.2 %

The firm has a market capitalization of $4.23 billion, a P/E ratio of 29.46 and a beta of 1.24. The business’s fifty day moving average is $444.55 and its 200 day moving average is $400.17.

Cavco Industries (NASDAQ:CVCO) last released its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.58. The business had revenue of $507.46 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $4.76 earnings per share. As a group, sell-side analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cavco Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. grew its position in Cavco Industries by 507.8% during the second quarter. Harbor Capital Advisors Inc. now owns 9,068 shares of the construction company’s stock valued at $3,139,000 after purchasing an additional 7,576 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Cavco Industries by 37.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock valued at $3,274,000 after buying an additional 2,558 shares during the period. Quest Partners LLC purchased a new position in shares of Cavco Industries during the 2nd quarter valued at $931,000. Blue Trust Inc. increased its stake 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. Finally, Farther Finance Advisors LLC raised 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 worth $44,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

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.