Insider Selling: Cavco Industries (NASDAQ:CVCO) Director Sells $294,380.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Richard Kerley sold 500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $588.76, for a total value of $294,380.00. Following the completion of the sale, the director directly owned 6,169 shares of the company’s stock, valued at approximately $3,632,060.44. This represents a 7.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $592.76 on Friday. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $713.01. The stock has a market cap of $4.55 billion, a PE ratio of 24.73 and a beta of 1.30. The stock has a 50 day moving average price of $516.13 and a 200 day moving average price of $555.49.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating the consensus estimate of $5.30 by $0.12. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%.The firm had revenue of $550.13 million during the quarter, compared to analysts’ expectations of $571.06 million. As a group, analysts predict that Cavco Industries, Inc. will post 25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cavco Industries

A number of institutional investors have recently modified their holdings of CVCO. Royal Bank of Canada grew its stake in shares of Cavco Industries by 5.2% in the first quarter. Royal Bank of Canada now owns 18,951 shares of the construction company’s stock valued at $9,849,000 after buying an additional 934 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cavco Industries by 1.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,799 shares of the construction company’s stock valued at $2,494,000 after buying an additional 90 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Cavco Industries in the first quarter valued at $266,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Cavco Industries by 15.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,876 shares of the construction company’s stock valued at $9,289,000 after buying an additional 2,384 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Cavco Industries by 12.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after buying an additional 22 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research note on Tuesday, May 26th. Finally, UBS Group assumed coverage on Cavco Industries in a research note on Friday, June 5th. They set a “buy” rating and a $700.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $625.00.

About Cavco Industries

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.