Insider Selling: Cavco Industries (NASDAQ:CVCO) EVP Sells $724,800.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) EVP Allison Aden sold 1,208 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $600.00, for a total value of $724,800.00. Following the completion of the transaction, the executive vice president owned 10,647 shares in the company, valued at approximately $6,388,200. The trade was a 10.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allison Aden also recently made the following trade(s):

• On Friday, May 15th, Allison Aden sold 129 shares of Cavco Industries stock. The shares were sold at an average price of $455.76, for a total value of $58,793.04.

Cavco Industries Stock Performance

CVCO opened at $586.05 on Thursday. Cavco Industries, Inc. has a one year low of $395.34 and a one year high of $713.01. The company has a market cap of $4.50 billion, a P/E ratio of 24.45 and a beta of 1.30. The business’s 50-day simple moving average is $522.97 and its 200-day simple moving average is $555.16.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings data on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a return on equity of 17.55% and a net margin of 8.49%.The business had revenue of $550.13 million for the quarter, compared to the consensus estimate 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 Trading of Cavco Industries

A number of large investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its position in shares of Cavco Industries by 13.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company’s stock valued at $90,000 after purchasing an additional 18 shares during the period. Sheets Smith Wealth Management lifted its position in Cavco Industries by 0.9% during the 1st quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company’s stock worth $1,090,000 after acquiring an additional 20 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Cavco Industries by 12.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after acquiring an additional 22 shares during the period. Guidance Capital Inc. lifted its position in Cavco Industries by 3.3% during the 3rd quarter. Guidance Capital Inc. now owns 1,122 shares of the construction company’s stock worth $663,000 after acquiring an additional 36 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Cavco Industries by 27.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 186 shares of the construction company’s stock worth $109,000 after acquiring an additional 40 shares during the period. 95.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVCO. UBS Group began coverage on Cavco Industries in a research report on Friday, June 5th. They issued a “buy” rating and a $700.00 target price for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Finally, Zacks Research raised Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company 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.