Cavco Industries, Inc. (NASDAQ:CVCO) Short Interest Up 6.9% in December

Cavco Industries, Inc. (NASDAQ:CVCO) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 192,800 shares, a growth of 6.9% from the November 30th total of 180,300 shares. Based on an average daily trading volume, of 57,400 shares, the short-interest ratio is presently 3.4 days. Approximately 2.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CVCO. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Craig Hallum increased their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a research report on Tuesday, December 3rd.

Insider Transactions at Cavco Industries

In related news, Director Julia Sze sold 125 shares of Cavco Industries stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now directly owns 2,861 shares in the company, valued at $1,312,283.48. This trade represents a 4.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Paul Bigbee sold 100 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the completion of the transaction, the chief accounting officer now owns 981 shares of the company’s stock, valued at approximately $502,497.63. This trade represents a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,100 shares of company stock worth $535,642. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC bought a new stake in shares of Cavco Industries during the second quarter worth about $138,000. Natixis Advisors LLC bought a new stake in Cavco Industries during the 2nd quarter worth approximately $3,640,000. Verus Capital Partners LLC raised its stake in shares of Cavco Industries by 4.5% in the second quarter. Verus Capital Partners LLC now owns 653 shares of the construction company’s stock worth $226,000 after purchasing an additional 28 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Cavco Industries by 8.2% in the second quarter. Victory Capital Management Inc. now owns 8,323 shares of the construction company’s stock valued at $2,881,000 after purchasing an additional 630 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Cavco Industries by 1.9% during the second quarter. Arizona State Retirement System now owns 2,103 shares of the construction company’s stock valued at $728,000 after buying an additional 39 shares during the last quarter. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Price Performance

NASDAQ CVCO opened at $448.97 on Thursday. The stock has a market capitalization of $3.64 billion, a P/E ratio of 25.38 and a beta of 1.29. Cavco Industries has a one year low of $304.10 and a one year high of $544.08. The business has a 50 day simple moving average of $469.98 and a 200 day simple moving average of $421.87.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly 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. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. During the same period in the prior year, the business earned $4.76 EPS. Equities analysts expect that Cavco Industries will post 18 earnings per share for the current year.

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.