Cavco Industries, Inc. (NASDAQ:CVCO) Insider Sells $538,000.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) insider Jack S. Brandom sold 1,000 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $538.00, for a total value of $538,000.00. Following the completion of the transaction, the insider now owns 1,176 shares in the company, valued at $632,688. This represents a 45.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cavco Industries Price Performance

CVCO opened at $530.79 on Wednesday. The business’s 50-day moving average price is $474.56 and its two-hundred day moving average price is $444.46. Cavco Industries, Inc. has a 1 year low of $331.08 and a 1 year high of $544.08. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 26.12 and a beta of 1.35.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, January 30th. The construction company reported $6.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $2.01. Cavco Industries had a return on equity of 16.17% and a net margin of 8.75%. Sell-side analysts anticipate that Cavco Industries, Inc. will post 21.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Wedbush reaffirmed a “neutral” rating and set a $550.00 price objective (up previously from $480.00) on shares of Cavco Industries in a research note on Monday, February 3rd. Craig Hallum raised 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. Finally, StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd.

Institutional Trading of Cavco Industries

Several hedge funds and other institutional investors have recently modified their holdings of CVCO. Assenagon Asset Management S.A. raised its stake in shares of 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 purchasing an additional 57,278 shares during the period. Cerity Partners LLC increased its position in shares of Cavco Industries by 91.8% in the third 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 last quarter. Atom Investors LP acquired a new stake in shares of Cavco Industries in the third quarter valued at about $7,572,000. Raymond James Financial Inc. acquired a new stake in shares of Cavco Industries in the fourth quarter valued at about $5,967,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Cavco Industries by 147.0% in the third 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 last quarter. 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.