Cavco Industries (NASDAQ:CVCO) Shares Down 2.1% After Insider Selling

Cavco Industries, Inc. (NASDAQ:CVCO)’s share price dropped 2.1% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $489.00 and last traded at $493.00. Approximately 4,990 shares changed hands during trading, a decline of 92% from the average daily volume of 63,894 shares. The stock had previously closed at $503.69.

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

Analyst Upgrades and Downgrades

CVCO has been the topic of a number of analyst reports. Craig Hallum upped their price objective on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a research note on Tuesday, December 3rd. Finally, StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday.

Cavco Industries Stock Performance

The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 28.10 and a beta of 1.29. The business has a fifty day moving average of $461.32 and a two-hundred day moving average of $410.70.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.58. The business had revenue of $507.46 million for 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 period in the previous year, the firm earned $4.76 EPS. As a group, sell-side analysts predict that Cavco Industries, Inc. will post 18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after acquiring an additional 12,822 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Cavco Industries by 0.8% in the 2nd quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock valued at $67,865,000 after buying an additional 1,541 shares in the last quarter. FMR LLC grew its holdings in Cavco Industries by 7.0% in the 3rd quarter. FMR LLC now owns 135,444 shares of the construction company’s stock valued at $58,002,000 after buying an additional 8,829 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cavco Industries by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock valued at $46,872,000 after buying an additional 5,935 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Cavco Industries by 8.5% in the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock valued at $30,614,000 after buying an additional 5,620 shares in the last quarter. 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.