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

Cavco Industries, Inc. (NASDAQ:CVCO) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 144,200 shares, a growth of 6.5% from the September 30th total of 135,400 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily volume of 64,500 shares, the days-to-cover ratio is currently 2.2 days.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wedbush boosted their price objective on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Craig Hallum boosted their target price on shares of Cavco Industries from $382.00 to $422.00 and gave the company a “buy” rating in a report on Monday, August 5th.

Cavco Industries Price Performance

Shares of CVCO stock traded up $36.92 on Friday, hitting $446.72. The stock had a trading volume of 79,583 shares, compared to its average volume of 64,432. The company’s 50 day moving average price is $420.40 and its 200-day moving average price is $386.27. Cavco Industries has a 1 year low of $248.84 and a 1 year high of $452.42. The firm has a market capitalization of $3.69 billion, a P/E ratio of 25.66 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share 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 period in the previous year, the company earned $5.29 earnings per share. On average, equities analysts forecast that Cavco Industries will post 17.35 EPS for the current year.

Insider Transactions at Cavco Industries

In other news, CAO Paul Bigbee sold 88 shares of the stock in a transaction dated 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 directly owns 1,081 shares of the company’s stock, valued at $433,913.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Paul Bigbee sold 88 shares of the company’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 completion of the sale, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at $433,913.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven G. Bunger sold 4,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was 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 in the company, valued at approximately $2,679,032.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,663 shares of company stock valued at $1,882,930 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cavco Industries

A number of large investors have recently modified their holdings of CVCO. Assenagon Asset Management S.A. boosted its position in shares of Cavco Industries by 1,610.3% in 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 purchasing an additional 57,278 shares during the period. Capital World Investors grew its holdings in shares of Cavco Industries by 2.9% during the first quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock worth $241,800,000 after buying an additional 17,125 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Cavco Industries by 147.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after acquiring an additional 13,331 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Cavco Industries during the 2nd quarter worth approximately $4,245,000. Finally, AYAL Capital Advisors Ltd increased its holdings in shares of Cavco Industries by 61.4% in the second quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock valued at $10,337,000 after purchasing an additional 11,361 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

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.