Cavco Industries, Inc. (NASDAQ:CVCO) Short Interest Up 6.5% in October

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 144,200 shares, a growth of 6.5% from the September 30th total of 135,400 shares. Approximately 1.9% of the company's shares are sold short. Based on an average daily volume of 64,500 shares, the short-interest ratio is currently 2.2 days.

Insiders Place Their Bets

In other news, SVP Steven K. Like sold 575 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total transaction of $210,806.50. Following the transaction, the senior vice president now directly owns 1,255 shares of the company's stock, valued at approximately $460,108.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares of the company's stock, valued at $433,913.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Steven K. Like sold 575 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now directly owns 1,255 shares in the company, valued at approximately $460,108.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,663 shares of company stock valued at $1,882,930 over the last three months. Insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Cavco Industries

Several hedge funds have recently added to or reduced their stakes in CVCO. Marks Group Wealth Management Inc increased its holdings in shares of Cavco Industries by 38.7% during the third quarter. Marks Group Wealth Management Inc now owns 11,137 shares of the construction company's stock valued at $4,769,000 after acquiring an additional 3,106 shares in the last quarter. Amalgamated Bank grew its position in Cavco Industries by 1.2% during the 3rd quarter. Amalgamated Bank now owns 2,428 shares of the construction company's stock valued at $1,040,000 after purchasing an additional 29 shares during the last quarter. Westbourne Investment Advisors Inc. bought a new stake in Cavco Industries during the 3rd quarter valued at about $310,000. Harbor Capital Advisors Inc. raised its holdings in Cavco Industries by 147.0% in the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company's stock worth $9,592,000 after buying an additional 13,331 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Cavco Industries by 390.5% in the third 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. 95.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CVCO. Wedbush boosted their price target on Cavco Industries from $425.00 to $455.00 and gave the company an "outperform" rating in a report on Friday, October 11th. Craig Hallum upped their target price on Cavco Industries from $382.00 to $422.00 and gave the company a "buy" rating in a report on Monday, August 5th.

Cavco Industries Trading Up 9.0 %

Cavco Industries stock traded up $36.93 on Friday, hitting $446.72. 79,583 shares of the stock traded hands, compared to its average volume of 64,432. Cavco Industries has a 1 year low of $248.84 and a 1 year high of $452.42. The business's fifty day simple moving average is $421.15 and its 200 day simple moving average is $386.80. The firm has a market cap of $3.69 billion, a P/E ratio of 26.02 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last released its earnings results on Thursday, August 1st. The construction company reported $4.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $487.80 million. During the same quarter in the previous year, the business posted $5.29 earnings per share. As a group, analysts predict that Cavco Industries will post 17.35 earnings per share for the current year.

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.