Cavco Industries (NASDAQ:CVCO) Trading Down 0.3% After Insider Selling

Shares of Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) fell 0.3% on Wednesday after an insider sold shares in the company. The stock traded as low as $498.57 and last traded at $498.60. 3,412 shares were traded during mid-day trading, a decline of 95% from the average session volume of 63,925 shares. The stock had previously closed at $500.00.

Specifically, Director Julia Sze sold 125 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $503.31, for a total transaction of $62,913.75. Following the transaction, the director now directly owns 2,736 shares of the company's stock, valued at $1,377,056.16. This represents a 4.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

CVCO has been the subject of a number of research reports. Wedbush cut Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price objective for the company. in a research report on Tuesday, December 3rd. Craig Hallum upped their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Finally, StockNews.com cut shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Wednesday.

Cavco Industries Trading Down 0.6 %

The firm has a 50 day moving average price of $461.32 and a 200 day moving average price of $410.70. The stock has a market capitalization of $4.03 billion, a PE ratio of 28.10 and a beta of 1.29.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, topping analysts' consensus estimates of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The business had revenue of $507.46 million during the quarter, compared to analysts' expectations of $480.10 million. During the same quarter in the prior year, the business posted $4.76 earnings per share. On average, equities research analysts expect that Cavco Industries, Inc. will post 18 EPS for the current year.

Institutional Investors Weigh In On Cavco Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVCO. Verus Capital Partners LLC increased its stake in shares of Cavco Industries by 4.5% in the second quarter. Verus Capital Partners LLC now owns 653 shares of the construction company's stock worth $226,000 after purchasing an additional 28 shares in the last quarter. Amalgamated Bank increased its stake in Cavco Industries by 1.2% in the 3rd quarter. Amalgamated Bank now owns 2,428 shares of the construction company's stock worth $1,040,000 after buying an additional 29 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in Cavco Industries by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company's stock worth $767,000 after buying an additional 31 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in Cavco Industries by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 9,493 shares of the construction company's stock valued at $4,066,000 after acquiring an additional 37 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Cavco Industries by 1.9% in the second quarter. Arizona State Retirement System now owns 2,103 shares of the construction company's stock valued at $728,000 after acquiring an additional 39 shares in the last quarter. Institutional investors own 95.56% of the company's stock.

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.