Insider Selling: Cavco Industries, Inc. (NASDAQ:CVCO) Director Sells $353,775.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Susan L. Blount sold 750 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $471.70, for a total transaction of $353,775.00. Following the completion of the sale, the director now directly owns 2,836 shares in the company, valued at approximately $1,337,741.20. The trade was a 20.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Cavco Industries Stock Performance

Cavco Industries stock opened at $476.84 on Monday. Cavco Industries, Inc. has a fifty-two week low of $310.46 and a fifty-two week high of $544.08. The stock has a market cap of $3.87 billion, a P/E ratio of 26.96 and a beta of 1.33. The firm’s fifty day moving average price is $473.45 and its 200-day moving average price is $430.99.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, topping 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 analysts’ expectations of $480.10 million. During the same quarter last year, the company earned $4.76 EPS. On average, analysts predict that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. 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. StockNews.com cut Cavco Industries from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Finally, Wedbush cut Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a report on Tuesday, December 3rd.

Hedge Funds Weigh In On Cavco Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Cavco Industries by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after acquiring an additional 12,822 shares in the last quarter. FMR LLC raised its holdings in Cavco Industries by 7.0% in the third quarter. FMR LLC now owns 135,444 shares of the construction company’s stock worth $58,002,000 after purchasing an additional 8,829 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $46,872,000 after purchasing an additional 5,935 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Cavco Industries by 8.5% during the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock valued at $30,614,000 after buying an additional 5,620 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of 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 valued at $26,052,000 after buying an additional 57,278 shares in the last quarter. 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.