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

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) shares traded down 0.6% on Wednesday following insider selling activity. The company traded as low as $516.72 and last traded at $518.19. 7,950 shares changed hands during 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 dated Friday, November 22nd. The shares were sold at an average price of $512.23, for a total transaction of $51,223.00. Following the transaction, the chief accounting officer now owns 981 shares of the company's stock, valued at approximately $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 can be accessed through this link.

Analyst Upgrades and Downgrades

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

Cavco Industries Trading Down 1.0 %

The company has a fifty day moving average of $446.39 and a 200-day moving average of $400.98. The stock has a market cap of $4.18 billion, a PE ratio of 29.16 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $507.46 million during the quarter, compared to analysts' expectations of $480.10 million. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. During the same quarter in the previous year, the business posted $4.76 earnings per share. As a group, research analysts anticipate that Cavco Industries, Inc. will post 18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SkyView Investment Advisors LLC lifted its stake in Cavco Industries by 1.8% in the third quarter. SkyView Investment Advisors LLC now owns 1,791 shares of the construction company's stock worth $767,000 after acquiring an additional 31 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Cavco Industries in the 3rd quarter valued at $637,000. Coldstream Capital Management Inc. acquired a new stake in shares of Cavco Industries in the 3rd quarter valued at $213,000. Geode Capital Management LLC lifted its position in shares of Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company's stock worth $96,107,000 after purchasing an additional 12,822 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Cavco Industries by 162.0% during the third quarter. Barclays PLC now owns 17,234 shares of the construction company's stock worth $7,381,000 after purchasing an additional 10,656 shares in the last quarter. 95.56% of the stock is owned by institutional investors and hedge funds.

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.