Cavco Industries (NASDAQ:CVCO) Shares Down 0.8% After Insider Selling

Shares of Cavco Industries, Inc. (NASDAQ:CVCO) traded down 0.8% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $475.17 and last traded at $475.94. 7,465 shares were traded during trading, a decline of 88% from the average session volume of 63,767 shares. The stock had previously closed at $479.76.

Specifically, Director Susan L. Blount sold 750 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $485.56, for a total value of $364,170.00. Following the completion of the transaction, the director now owns 2,086 shares of the company’s stock, valued at approximately $1,012,878.16. This trade represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVCO. Craig Hallum upped their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a research note on Tuesday, December 3rd.

Cavco Industries Stock Down 2.2 %

The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 25.00 and a beta of 1.29. The company has a 50 day simple moving average of $466.66 and a 200 day simple moving average of $415.17.

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

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds have recently added to or reduced their stakes in CVCO. Thrivent Financial for Lutherans boosted its holdings in Cavco Industries by 37.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock worth $3,274,000 after acquiring an additional 2,558 shares during the last quarter. Quest Partners LLC purchased a new position in Cavco Industries in the 2nd quarter worth approximately $931,000. Fisher Asset Management LLC lifted its holdings in shares of Cavco Industries by 8.5% in the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after acquiring an additional 5,620 shares during the last quarter. Blue Trust Inc. grew its holdings 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 purchasing an additional 90 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock valued at $20,091,000 after buying an additional 22,451 shares during the period. Institutional investors and hedge funds 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.