Insider Selling: Cavco Industries (NASDAQ:CVCO) Insider Sells 31 Shares of Stock

Cavco Industries, Inc. (NASDAQ:CVCO) insider Brian Cira sold 31 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $509.17, for a total transaction of $15,784.27. Following the completion of the transaction, the insider owned 4,290 shares in the company, valued at approximately $2,184,339.30. This trade represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cavco Industries Stock Down 0.3%

Shares of NASDAQ:CVCO opened at $534.89 on Tuesday. The company’s 50 day moving average price is $499.76 and its two-hundred day moving average price is $554.67. Cavco Industries, Inc. has a 12-month low of $393.53 and a 12-month high of $713.01. The firm has a market cap of $4.11 billion, a PE ratio of 22.31 and a beta of 1.31.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, May 21st. The construction company reported $5.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.30 by $0.12. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. The firm had revenue of $550.13 million for the quarter, compared to analyst estimates of $571.06 million. On average, research analysts expect that Cavco Industries, Inc. will post 25 EPS for the current year.

Hedge Funds Weigh In On Cavco Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVCO. Aster Capital Management DIFC Ltd bought a new position in Cavco Industries in the 4th quarter valued at approximately $46,000. Kemnay Advisory Services Inc. acquired a new position in Cavco Industries in the 4th quarter valued at approximately $50,000. Los Angeles Capital Management LLC acquired a new position in Cavco Industries in the 4th quarter valued at approximately $54,000. Osaic Holdings Inc. increased its position in Cavco Industries by 118.2% in the 2nd quarter. Osaic Holdings Inc. now owns 120 shares of the construction company’s stock valued at $57,000 after acquiring an additional 65 shares during the period. Finally, Danske Bank A S acquired a new position in Cavco Industries in the 3rd quarter valued at approximately $58,000. Institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVCO. Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cavco Industries in a report on Tuesday, May 26th. Finally, Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $550.00.

Cavco Industries Company Profile

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.