Cavco Industries (NASDAQ:CVCO) Stock Price Down 0.6% After Insider Selling

Cavco Industries, Inc. (NASDAQ:CVCO) shares fell 0.6% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $516.72 and last traded at $518.19. 7,950 shares were traded during mid-day trading, a decline of 88% from the average session volume of 64,448 shares. The stock had previously closed at $521.23.

Specifically, CAO Paul Bigbee sold 100 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the sale, the chief accounting officer now owns 981 shares of the company’s stock, valued at $502,497.63. The trade was a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

CVCO has been the topic of a number of recent analyst reports. Craig Hallum increased their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com upgraded shares of Cavco Industries from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Wedbush raised their price target on shares of Cavco Industries from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Friday, October 11th.

Cavco Industries Trading Down 0.6 %

The stock has a market cap of $4.20 billion, a PE ratio of 29.29 and a beta of 1.24. The firm has a fifty day simple moving average of $444.55 and a two-hundred day simple moving average of $400.17.

Cavco Industries (NASDAQ:CVCO) last announced its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The business had revenue of $507.46 million for the quarter, compared to the consensus estimate of $480.10 million. During the same period last year, the firm posted $4.76 earnings per share. Equities analysts forecast that Cavco Industries, Inc. will post 18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in Cavco Industries by 9,900.0% during the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Cavco Industries by 390.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company’s stock worth $44,000 after buying an additional 82 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in Cavco Industries in the third quarter worth approximately $64,000. GAMMA Investing LLC boosted its stake in Cavco Industries by 30.2% in the third quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after buying an additional 64 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Cavco Industries during the second quarter worth approximately $138,000. 95.56% of the stock is currently 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.