Cavco Industries, Inc. (NASDAQ:CVCO) Short Interest Update

Cavco Industries, Inc. (NASDAQ:CVCO) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 192,800 shares, an increase of 6.9% from the November 30th total of 180,300 shares. Currently, 2.5% of the shares of the company are short sold. Based on an average daily volume of 57,400 shares, the days-to-cover ratio is currently 3.4 days.

Wall Street Analysts Forecast Growth

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

Insider Activity at Cavco Industries

In related news, Director Susan L. Blount sold 750 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $485.56, for a total transaction of $364,170.00. Following the completion of the transaction, the director now directly owns 2,086 shares of the company’s stock, valued at $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Julia Sze sold 125 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the transaction, the director now directly owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,100 shares of company stock valued at $535,642 in the last three months. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cavco Industries

Several institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its position in Cavco Industries by 37.1% in the second quarter. Thrivent Financial for Lutherans now owns 9,456 shares of the construction company’s stock worth $3,274,000 after purchasing an additional 2,558 shares during the period. Fisher Asset Management LLC lifted its holdings in Cavco Industries by 8.5% in the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock valued at $30,614,000 after acquiring an additional 5,620 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Cavco Industries in the 2nd quarter worth approximately $931,000. Blue Trust Inc. boosted its holdings in Cavco Industries by 90.0% during the third quarter. Blue Trust Inc. now owns 190 shares of the construction company’s stock worth $81,000 after buying an additional 90 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of Cavco Industries by 91.8% during the 3rd quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after acquiring an additional 22,451 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Stock Up 1.2 %

Shares of CVCO traded up $5.17 during midday trading on Thursday, hitting $451.40. The company had a trading volume of 3,489 shares, compared to its average volume of 63,926. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 25.52 and a beta of 1.29. Cavco Industries has a 52 week low of $304.10 and a 52 week high of $544.08. The company’s 50 day moving average price is $469.98 and its 200 day moving average price is $421.87.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The firm had revenue of $507.46 million for the quarter, compared to analyst estimates of $480.10 million. During the same quarter in the prior year, the business earned $4.76 earnings per share. Equities analysts anticipate that Cavco Industries will post 18 EPS for the current fiscal 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.