Insider Selling: Cavco Industries, Inc. (NASDAQ:CVCO) Director Sells 4,000 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Steven G. Bunger sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total transaction of $1,636,800.00. Following the completion of the transaction, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Cavco Industries Stock Up 0.2 %

Shares of CVCO stock traded up $0.92 during trading hours on Monday, hitting $428.45. 23,118 shares of the company’s stock traded hands, compared to its average volume of 64,205. The stock’s 50 day simple moving average is $391.73 and its 200 day simple moving average is $374.99. The stock has a market cap of $3.53 billion, a PE ratio of 23.42 and a beta of 1.24. Cavco Industries, Inc. has a 12 month low of $233.84 and a 12 month high of $435.56.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.97 by ($0.86). The business had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same period in the previous year, the business posted $5.29 EPS. As a group, equities research analysts expect that Cavco Industries, Inc. will post 17.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Cavco Industries

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its stake in Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after buying an additional 99 shares during the last quarter. Mather Group LLC. bought a new position in Cavco Industries during the first quarter worth $60,000. nVerses Capital LLC bought a new position in Cavco Industries during the second quarter worth $138,000. SG Americas Securities LLC bought a new position in Cavco Industries during the first quarter worth $197,000. Finally, O Shaughnessy Asset Management LLC bought a new position in Cavco Industries during the first quarter worth $209,000. Institutional investors own 95.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVCO shares. Wedbush reissued an “outperform” rating and issued a $425.00 price objective on shares of Cavco Industries in a research note on Friday, August 2nd. Craig Hallum raised their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

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.