Short Interest in Cavco Industries, Inc. (NASDAQ:CVCO) Grows By 6.9%

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 192,800 shares, a growth of 6.9% from the November 30th total of 180,300 shares. Based on an average daily volume of 57,400 shares, the days-to-cover ratio is currently 3.4 days. Currently, 2.5% of the shares of the stock are short sold.

Cavco Industries Price Performance

CVCO stock traded down $7.16 during trading on Thursday, reaching $439.07. 53,126 shares of the stock traded hands, compared to its average volume of 63,926. The business's 50 day moving average price is $470.43 and its 200-day moving average price is $421.99. The firm has a market capitalization of $3.56 billion, a PE ratio of 24.82 and a beta of 1.29. Cavco Industries has a 52-week low of $304.10 and a 52-week high of $544.08.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last posted its earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.70 by $0.58. The firm had revenue of $507.46 million during the quarter, compared to the consensus estimate 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 prior year, the company earned $4.76 EPS. On average, equities research analysts predict that Cavco Industries will post 18 earnings per share for the current year.

Insider Activity

In other Cavco Industries news, Director Julia Sze sold 125 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the transaction, the director now owns 2,861 shares of the company's stock, valued at $1,312,283.48. This represents a 4.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Susan L. Blount sold 750 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $485.56, for a total value of $364,170.00. Following the sale, the director now owns 2,086 shares in the company, valued at $1,012,878.16. This trade represents a 26.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,100 shares of company stock worth $535,642 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in shares of Cavco Industries by 390.5% during the third quarter. Farther Finance Advisors LLC now owns 103 shares of the construction company's stock valued at $44,000 after purchasing an additional 82 shares during the period. Avior Wealth Management LLC acquired a new stake in Cavco Industries during the 3rd quarter valued at $64,000. Blue Trust Inc. increased its stake in Cavco Industries by 90.0% during the 3rd quarter. Blue Trust Inc. now owns 190 shares of the construction company's stock worth $81,000 after buying an additional 90 shares during the period. GAMMA Investing LLC lifted its holdings in Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock worth $118,000 after buying an additional 64 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Cavco Industries in the 2nd quarter valued at about $138,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on CVCO. Wedbush cut Cavco Industries from an "outperform" rating to a "neutral" rating and set a $480.00 price target for the company. in a report on Tuesday, December 3rd. StockNews.com downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Friday, December 20th. Finally, Craig Hallum upped their price target on shares of Cavco Industries from $422.00 to $495.00 and gave the stock a "buy" rating in a research report on Monday, November 4th.

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.