Cavco Industries, Inc. (NASDAQ:CVCO) CAO Sells $35,323.20 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) CAO Paul Bigbee sold 88 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the sale, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at $433,913.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cavco Industries Price Performance

Shares of NASDAQ:CVCO opened at $427.53 on Friday. The firm’s 50 day simple moving average is $391.73 and its two-hundred day simple moving average is $374.88. The company has a market capitalization of $3.53 billion, a P/E ratio of 23.30 and a beta of 1.24. Cavco Industries, Inc. has a 1-year low of $233.84 and a 1-year high of $435.56.

Cavco Industries (NASDAQ:CVCO) last released its 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). Cavco Industries had a return on equity of 14.23% and a net margin of 8.12%. The business had revenue of $477.60 million for the quarter, compared to analysts’ expectations of $487.80 million. During the same quarter in the prior year, the business posted $5.29 EPS. On average, sell-side analysts anticipate that Cavco Industries, Inc. will post 17.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cavco Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Cavco Industries during the 4th quarter valued at approximately $21,059,000. Capital World Investors increased its position in Cavco Industries by 2.9% during the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock valued at $241,800,000 after acquiring an additional 17,125 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Cavco Industries in the second quarter valued at $4,245,000. Confluence Investment Management LLC bought a new stake in shares of Cavco Industries in the 1st quarter worth about $4,679,000. Finally, AYAL Capital Advisors Ltd boosted its stake in shares of Cavco Industries by 61.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock worth $10,337,000 after purchasing an additional 11,361 shares during the period. Institutional investors own 95.56% of the company’s stock.

Analyst Ratings Changes

CVCO has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price objective on shares of Cavco Industries in a report on Friday, August 2nd. Craig Hallum increased their price target on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

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.