Cavco Industries, Inc. (NASDAQ:CVCO) Director Sells $1,636,800.00 in Stock

Cavco Industries, Inc. (NASDAQ:CVCO) Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the completion of the sale, the director now owns 6,547 shares in the company, valued at $2,679,032.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO opened at $424.03 on Thursday. Cavco Industries, Inc. has a 1 year low of $233.84 and a 1 year high of $437.02. The stock has a 50-day simple moving average of $396.63 and a 200-day simple moving average of $376.08. The stock has a market capitalization of $3.51 billion, a P/E ratio of 23.11 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. The business had revenue of $477.60 million during the quarter, compared to analysts’ expectations of $487.80 million. During the same period in the prior year, the business posted $5.29 EPS. Analysts predict that Cavco Industries, Inc. will post 17.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Aristides Capital LLC grew its stake in shares of Cavco Industries by 150.2% in the second quarter. Aristides Capital LLC now owns 1,699 shares of the construction company’s stock valued at $588,000 after buying an additional 1,020 shares in the last quarter. Creative Planning raised its stake in shares of Cavco Industries by 116.8% during the second quarter. Creative Planning now owns 1,136 shares of the construction company’s stock valued at $393,000 after purchasing an additional 612 shares during the period. Algert Global LLC acquired a new position in shares of Cavco Industries during the second quarter worth $262,000. The Manufacturers Life Insurance Company boosted its stake in shares of Cavco Industries by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 4,602 shares of the construction company’s stock valued at $1,593,000 after purchasing an additional 87 shares during the period. Finally, AYAL Capital Advisors Ltd grew its holdings in Cavco Industries by 61.4% during the 2nd 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 in the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Craig Hallum upped 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. Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Cavco Industries in a research note on Friday, August 2nd.

About Cavco Industries

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.