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

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

Cavco Industries Stock Down 2.8 %

Cavco Industries stock opened at $484.66 on Monday. The business has a 50 day moving average price of $463.95 and a two-hundred day moving average price of $413.21. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 27.40 and a beta of 1.29. Cavco Industries has a 12 month low of $304.10 and a 12 month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. During the same period in the prior year, the firm posted $4.76 EPS. On average, analysts expect that Cavco Industries will post 18 earnings per share for the current fiscal year.

Insider Activity at Cavco Industries

In other news, CAO Paul Bigbee sold 100 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $512.23, for a total transaction of $51,223.00. Following the completion of the sale, the chief accounting officer now owns 981 shares in the company, valued at approximately $502,497.63. This represents a 9.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Julia Sze sold 125 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was 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 of the company’s stock, valued at approximately $1,312,283.48. This trade represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 350 shares of company stock valued at $171,472. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

A number of hedge funds have recently modified their holdings of CVCO. Geode Capital Management LLC increased its holdings in Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after purchasing an additional 12,822 shares in the last quarter. FMR LLC increased its holdings in 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 purchasing an additional 8,829 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cavco Industries by 5.7% in 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 buying an additional 5,935 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Cavco Industries by 8.5% during the third 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 period. Finally, Assenagon Asset Management S.A. boosted its holdings in Cavco Industries by 1,610.3% in the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after acquiring an additional 57,278 shares during the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.