Cavco Industries (NASDAQ:CVCO) Trading Down 0.3% Following Insider Selling

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price was down 0.3% during trading on Wednesday following insider selling activity. The company traded as low as $498.57 and last traded at $498.60. Approximately 3,412 shares were traded during trading, a decline of 95% from the average daily volume of 63,925 shares. The stock had previously closed at $500.00.

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

Analysts Set New Price Targets

A number of research analysts have commented on CVCO shares. Craig Hallum increased their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wedbush downgraded Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a report on Tuesday, December 3rd. Finally, StockNews.com downgraded Cavco Industries from a “buy” rating to a “hold” rating in a report on Wednesday.

Cavco Industries Stock Performance

The firm has a market cap of $4.03 billion, a P/E ratio of 28.10 and a beta of 1.29. The firm has a fifty day moving average of $461.32 and a 200-day moving average of $410.70.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) 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 return on equity of 14.38% and a net margin of 8.00%. During the same quarter last year, the business posted $4.76 EPS. Equities research analysts expect that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Institutional Trading of Cavco Industries

Several hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after acquiring an additional 57,278 shares during the period. Cerity Partners LLC increased its position in Cavco Industries by 91.8% in the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock valued at $20,091,000 after acquiring an additional 22,451 shares during the period. Atom Investors LP acquired a new stake in Cavco Industries in the 3rd quarter valued at approximately $7,572,000. Harbor Capital Advisors Inc. increased its position in Cavco Industries by 147.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after acquiring an additional 13,331 shares during the period. Finally, Geode Capital Management LLC increased its position in Cavco Industries by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after acquiring an additional 12,822 shares during the period. 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.