Cavco Industries (NASDAQ:CVCO) Trading Down 2.5% Following Insider Selling

Cavco Industries, Inc. (NASDAQ:CVCO)’s share price dropped 2.5% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $518.81 and last traded at $519.59. Approximately 8,573 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 64,317 shares. The stock had previously closed at $533.17.

Specifically, CAO Paul Bigbee sold 100 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 981 shares of the company’s stock, valued at approximately $502,497.63. The trade was a 9.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CVCO shares. Wedbush raised their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a research report on Friday, October 11th. Craig Hallum raised their price target 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. Finally, StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

Cavco Industries Stock Performance

The stock has a 50 day moving average of $444.55 and a two-hundred day moving average of $400.17. The firm has a market capitalization of $4.23 billion, a P/E ratio of 29.46 and a beta of 1.24.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Verus Capital Partners LLC raised its position in shares of Cavco Industries by 4.5% during the second quarter. Verus Capital Partners LLC now owns 653 shares of the construction company’s stock valued at $226,000 after buying an additional 28 shares during the last quarter. Amalgamated Bank increased its stake in Cavco Industries by 1.2% during the third quarter. Amalgamated Bank now owns 2,428 shares of the construction company’s stock valued at $1,040,000 after acquiring an additional 29 shares during the period. SkyView Investment Advisors LLC raised its holdings in Cavco Industries by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company’s stock valued at $767,000 after acquiring an additional 31 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Cavco Industries by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company’s stock valued at $4,066,000 after acquiring an additional 37 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Cavco Industries by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 2,103 shares of the construction company’s stock worth $728,000 after acquiring an additional 39 shares during the period. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Company Profile

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.