Cavco Industries, Inc. (NASDAQ:CVCO) Sees Significant Decrease in Short Interest

Cavco Industries, Inc. (NASDAQ:CVCOGet Free Report) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 236,200 shares, a drop of 5.4% from the February 29th total of 249,700 shares. Based on an average daily volume of 66,000 shares, the days-to-cover ratio is presently 3.6 days. Approximately 3.0% of the company’s stock are sold short.

Cavco Industries Stock Performance

NASDAQ CVCO opened at $374.59 on Wednesday. Cavco Industries has a one year low of $233.84 and a one year high of $400.99. The firm’s fifty day moving average is $366.02 and its two-hundred day moving average is $317.20. The firm has a market cap of $3.13 billion, a PE ratio of 19.01 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCOGet Free Report) last posted its quarterly earnings data on Friday, February 2nd. The construction company reported $4.27 earnings per share for the quarter, missing analysts’ consensus estimates of $4.36 by ($0.09). The company had revenue of $446.77 million for the quarter, compared to analyst estimates of $428.40 million. Cavco Industries had a return on equity of 17.00% and a net margin of 9.25%. During the same period in the previous year, the business posted $6.66 earnings per share. Research analysts predict that Cavco Industries will post 19.46 earnings per share for the current year.

Insider Activity

In related news, insider Matthew A. Nino sold 2,357 shares of Cavco Industries stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $360.00, for a total value of $848,520.00. Following the completion of the transaction, the insider now owns 1,248 shares in the company, valued at $449,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Paul Bigbee sold 262 shares of Cavco Industries stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $367.13, for a total value of $96,188.06. Following the completion of the transaction, the chief accounting officer now owns 766 shares in the company, valued at $281,221.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew A. Nino sold 2,357 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $360.00, for a total transaction of $848,520.00. Following the sale, the insider now directly owns 1,248 shares in the company, valued at approximately $449,280. The disclosure for this sale can be found here. Insiders own 1.73% of the company’s stock.

Institutional Trading of Cavco Industries

Hedge funds have recently made changes to their positions in the company. American Century Companies Inc. increased its position in Cavco Industries by 18.0% during the 3rd quarter. American Century Companies Inc. now owns 208,156 shares of the construction company’s stock worth $55,299,000 after purchasing an additional 31,707 shares during the period. Cannell Capital LLC boosted its position in Cavco Industries by 4.9% during the third quarter. Cannell Capital LLC now owns 66,416 shares of the construction company’s stock worth $17,644,000 after purchasing an additional 3,084 shares in the last quarter. Roundview Capital LLC purchased a new stake in Cavco Industries during the third quarter worth $656,000. Comerica Bank purchased a new stake in Cavco Industries during the second quarter worth $12,340,000. Finally, Watchman Group Inc. purchased a new stake in Cavco Industries during the third quarter worth $2,573,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Cavco Industries Company Profile

(Get Free Report)

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.

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