Cavco Industries (NASDAQ:CVCO) Shares Down 0.6% on Insider Selling

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price traded down 0.6% on Wednesday following insider selling activity. The company traded as low as $516.72 and last traded at $518.19. 7,950 shares changed hands during trading, a decline of 88% from the average session volume of 64,448 shares. The stock had previously closed at $521.23.

Specifically, CAO Paul Bigbee sold 100 shares of Cavco Industries stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following the transaction, the chief accounting officer now owns 981 shares in the company, valued at approximately $502,497.63. This trade represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Craig Hallum raised their price objective on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Wedbush boosted their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th.

Cavco Industries Stock Performance

The firm has a fifty day moving average of $446.39 and a 200-day moving average of $400.98. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 29.16 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million during the quarter, compared to analyst estimates 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 firm earned $4.76 earnings per share. On average, analysts predict that Cavco Industries, Inc. will post 18 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake 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 buying an additional 99 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock valued at $44,000 after acquiring an additional 82 shares in the last quarter. Avior Wealth Management LLC purchased a new stake in shares of Cavco Industries during the third quarter worth about $64,000. GAMMA Investing LLC lifted its stake in shares of Cavco Industries by 30.2% in the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after acquiring an additional 64 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Cavco Industries in the second quarter valued at about $138,000. 95.56% of the stock is owned by institutional investors and hedge funds.

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.