Cavco Industries (NASDAQ:CVCO) Trading Down 2.1% on Insider Selling

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price was down 2.1% on Tuesday following insider selling activity. The company traded as low as $489.00 and last traded at $493.00. Approximately 4,990 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 63,894 shares. The stock had previously closed at $503.69.

Specifically, Director Julia Sze sold 125 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $503.31, for a total value of $62,913.75. Following the completion of the sale, the director now directly owns 2,736 shares in the company, valued at $1,377,056.16. This trade represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Several analysts have recently commented on CVCO shares. Craig Hallum increased their price objective on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target for the company. in a research note on Tuesday, December 3rd. Finally, StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

Cavco Industries Stock Down 0.7 %

The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 28.26 and a beta of 1.29. The company’s 50 day moving average price is $460.04 and its 200 day moving average price is $410.10.

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

Institutional Investors Weigh In On Cavco Industries

A number of large investors have recently bought and sold shares of CVCO. Hunter Perkins Capital Management LLC boosted its holdings in shares of Cavco Industries by 28.4% in the 2nd quarter. Hunter Perkins Capital Management LLC now owns 2,535 shares of the construction company’s stock valued at $878,000 after acquiring an additional 560 shares during the last quarter. 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 worth $35,000 after purchasing an additional 99 shares during the period. Boston Trust Walden Corp grew its position in Cavco Industries by 0.8% during the 2nd quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock worth $67,865,000 after purchasing an additional 1,541 shares during the period. Raymond James & Associates raised its stake in shares of Cavco Industries by 4.0% during the 2nd quarter. Raymond James & Associates now owns 13,138 shares of the construction company’s stock valued at $4,548,000 after buying an additional 503 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Cavco Industries by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 3,900 shares of the construction company’s stock valued at $1,350,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

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.