Cavco Industries (NASDAQ:CVCO) Shares Gap Down to $293.39

Cavco Industries, Inc. (NASDAQ:CVCO – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $293.39, but opened at $287.20. Cavco Industries shares last traded at $260.96, with a volume of 66,528 shares.

Analyst Upgrades and Downgrades

CVCO has been the subject of a number of research analyst reports. Craig Hallum increased their price target on Cavco Industries from $310.00 to $357.00 in a report on Monday, April 24th. Wedbush increased their price target on Cavco Industries from $385.00 to $410.00 and gave the stock an “outperform” rating in a report on Monday, February 6th. Finally, StockNews.com began coverage on Cavco Industries in a report on Thursday. They set a “buy” rating for the company.

Cavco Industries Trading Down 6.1 %

The business has a fifty day moving average of $295.17 and a 200 day moving average of $264.84. The company has a market capitalization of $2.39 billion, a PE ratio of 10.23 and a beta of 1.22.

Insider Activity at Cavco Industries

In related news, insider Gavin Ryan sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $290.03, for a total transaction of $870,090.00. Following the completion of the transaction, the insider now directly owns 529 shares in the company, valued at approximately $153,425.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.62% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Cavco Industries by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 789,464 shares of the construction company’s stock valued at $190,142,000 after purchasing an additional 34,461 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Cavco Industries by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 399,103 shares of the construction company’s stock valued at $126,808,000 after purchasing an additional 5,015 shares in the last quarter. State Street Corp raised its position in Cavco Industries by 5.4% in the 1st quarter. State Street Corp now owns 323,585 shares of the construction company’s stock valued at $102,816,000 after purchasing an additional 16,636 shares in the last quarter. Broad Bay Capital Management LP raised its position in shares of Cavco Industries by 9.0% during the 3rd quarter. Broad Bay Capital Management LP now owns 292,000 shares of the construction company’s stock worth $60,082,000 after acquiring an additional 24,000 shares in the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of Cavco Industries by 0.5% during the 4th quarter. Boston Trust Walden Corp now owns 248,266 shares of the construction company’s stock worth $56,170,000 after acquiring an additional 1,246 shares in the last quarter. Institutional investors and hedge funds own 93.32% of the company’s stock.

About Cavco Industries

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Cavco Industries, Inc engages in the development of residential modular structures. It offers manufactured homes, modular homes, park model RVs and cabins, commercial structures, mortgage lending, and insurance. The firm’s brands include Cavco, Fleetwood, Palm Harbor and Fairmont, Friendship, Chariot Eagle and Destiny.