Short Interest in Cavco Industries, Inc. (NASDAQ:CVCO) Increases By 20.0%

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 180,300 shares, an increase of 20.0% from the November 15th total of 150,300 shares. Based on an average daily trading volume, of 62,900 shares, the short-interest ratio is currently 2.9 days. Currently, 2.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CAO Paul Bigbee sold 100 shares of Cavco Industries stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $512.23, for a total value of $51,223.00. Following the completion of the sale, the chief accounting officer now directly owns 981 shares in the company, valued at $502,497.63. This trade represents a 9.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia Sze sold 125 shares of the business's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the sale, the director now directly owns 2,861 shares of the company's stock, valued at $1,312,283.48. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 350 shares of company stock worth $171,472 in the last 90 days. Corporate insiders own 1.60% of the company's stock.

Institutional Investors Weigh In On Cavco Industries

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its stake in Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company's stock worth $35,000 after purchasing an additional 99 shares in the last quarter. Farther Finance Advisors LLC increased its position 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 worth $44,000 after acquiring an additional 82 shares in the last quarter. Avior Wealth Management LLC acquired a new stake in shares of Cavco Industries during the third quarter worth $64,000. GAMMA Investing LLC lifted its position in Cavco Industries by 30.2% in the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock valued at $118,000 after acquiring an additional 64 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Cavco Industries during the 2nd quarter worth about $138,000. Institutional investors and hedge funds own 95.56% of the company's stock.

Cavco Industries Stock Down 2.8 %

NASDAQ CVCO traded down $14.12 during trading on Friday, reaching $484.66. 52,747 shares of the stock traded hands, compared to its average volume of 64,083. The stock's 50-day moving average price is $463.95 and its 200 day moving average price is $412.27. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 27.40 and a beta of 1.29. Cavco Industries has a fifty-two week low of $304.10 and a fifty-two week high of $544.08.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.58. The company had revenue of $507.46 million during the quarter, compared to analyst estimates 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 earned $4.76 EPS. Analysts anticipate that Cavco Industries will post 18 EPS for the current fiscal 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.

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