Short Interest in Cavco Industries, Inc. (NASDAQ:CVCO) Increases By 20.0%

Cavco Industries, Inc. (NASDAQ:CVCO) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 180,300 shares, a growth of 20.0% from the November 15th total of 150,300 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average trading volume of 62,900 shares, the short-interest ratio is currently 2.9 days.

Analysts Set New Price Targets

CVCO has been the subject of a number of research reports. Craig Hallum lifted their price objective on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective for the company. in a research report on Tuesday, December 3rd.

Insider Activity at Cavco Industries

In related news, CAO Paul Bigbee sold 100 shares of the business’s stock in a transaction dated 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 directly owns 981 shares of the company’s stock, valued at $502,497.63. The trade was a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Julia Sze sold 125 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $458.68, for a total value of $57,335.00. Following the sale, the director now owns 2,861 shares in the company, valued at $1,312,283.48. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 350 shares of company stock valued at $171,472 over the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CVCO. Geode Capital Management LLC raised its holdings in shares of Cavco Industries by 6.1% during the third 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 during the last quarter. FMR LLC increased its position 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 acquiring an additional 8,829 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Cavco Industries by 5.7% during 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 acquiring an additional 5,935 shares in the last quarter. Fisher Asset Management LLC boosted its position in Cavco Industries by 8.5% during the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after acquiring an additional 5,620 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Cavco Industries by 1,610.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after acquiring an additional 57,278 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.

Cavco Industries Price Performance

NASDAQ:CVCO opened at $484.66 on Monday. The firm has a market capitalization of $3.93 billion, a P/E ratio of 27.40 and a beta of 1.29. The business has a 50 day simple moving average of $463.95 and a 200 day simple moving average of $412.71. Cavco Industries has a 12-month low of $304.10 and a 12-month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter in the previous year, the company posted $4.76 earnings per share. Research analysts anticipate that Cavco Industries will post 18 EPS for the current fiscal year.

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.