Cavco Industries, Inc. (NASDAQ:CVCO) Sees Large Increase in Short Interest

Cavco Industries, Inc. (NASDAQ:CVCO) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 204,500 shares, an increase of 7.0% from the March 31st total of 191,100 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average trading volume of 64,100 shares, the short-interest ratio is currently 3.2 days.

Cavco Industries Price Performance

Cavco Industries stock opened at $365.00 on Thursday. Cavco Industries has a 12-month low of $233.84 and a 12-month high of $400.99. The stock has a market capitalization of $3.05 billion, a P/E ratio of 18.52 and a beta of 1.15. The firm’s 50-day moving average is $374.17 and its two-hundred day moving average is $332.29.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Friday, February 2nd. The construction company reported $4.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.36 by ($0.09). Cavco Industries had a return on equity of 17.00% and a net margin of 9.25%. The firm had revenue of $446.77 million for the quarter, compared to analyst estimates of $428.40 million. During the same period in the prior year, the business earned $6.66 earnings per share. As a group, analysts forecast that Cavco Industries will post 19.46 EPS for the current year.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 262 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $367.13, for a total value of $96,188.06. Following the sale, the chief accounting officer now directly owns 766 shares of the company’s stock, valued at approximately $281,221.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Paul Bigbee sold 262 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $367.13, for a total value of $96,188.06. Following the sale, the chief accounting officer now directly owns 766 shares of the company’s stock, valued at approximately $281,221.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Matthew A. Nino sold 2,357 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $360.00, for a total transaction of $848,520.00. Following the completion of the sale, the insider now directly owns 1,248 shares in the company, valued at $449,280. The disclosure for this sale can be found here. 1.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cavco Industries

Hedge funds have recently modified their holdings of the company. Group One Trading L.P. acquired a new stake in shares of Cavco Industries during the 3rd quarter worth about $26,000. Headinvest LLC acquired a new stake in shares of Cavco Industries during the 3rd quarter worth about $26,000. Mather Group LLC. acquired a new stake in shares of Cavco Industries during the 1st quarter worth about $60,000. GAMMA Investing LLC acquired a new stake in shares of Cavco Industries during the 4th quarter worth about $77,000. Finally, Simplex Trading LLC acquired a new stake in shares of Cavco Industries during the 4th quarter worth about $140,000. 95.56% of the stock is owned by institutional investors and hedge funds.

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.