Cavco Industries (NASDAQ:CVCO) Shares Down 0.3% After Insider Selling

Cavco Industries, Inc. (NASDAQ:CVCO)’s share price traded down 0.3% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $498.57 and last traded at $498.60. Approximately 3,412 shares were traded during trading, a decline of 95% from the average daily volume of 63,925 shares. The stock had previously closed at $500.00.

Specifically, Director Julia Sze sold 125 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $503.31, for a total transaction of $62,913.75. Following the completion of the transaction, the director now owns 2,736 shares in the company, valued at $1,377,056.16. This represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CVCO shares. Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective on the stock. in a report on Tuesday, December 3rd. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Craig Hallum increased their price objective on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research note on Monday, November 4th.

Cavco Industries Price Performance

The stock has a market capitalization of $4.04 billion, a PE ratio of 28.20 and a beta of 1.29. The company’s 50 day moving average price is $462.71 and its two-hundred day moving average price is $411.32.

Cavco Industries (NASDAQ:CVCO) last released 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 net margin of 8.00% and a return on equity of 14.38%. During the same period last year, the company posted $4.76 EPS. Analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Hedge Funds Weigh In On Cavco Industries

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