Cavco Industries, Inc. (NASDAQ:CVCO) Short Interest Update

Cavco Industries, Inc. (NASDAQ:CVCO) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 162,900 shares, an increase of 13.0% from the October 15th total of 144,200 shares. Based on an average daily trading volume, of 63,300 shares, the short-interest ratio is presently 2.6 days. Approximately 2.1% of the company’s stock are short sold.

Cavco Industries Price Performance

Shares of CVCO stock traded up $0.89 during midday trading on Monday, reaching $466.12. 6,469 shares of the company traded hands, compared to its average volume of 64,394. The firm has a market cap of $3.78 billion, a PE ratio of 26.38 and a beta of 1.24. The firm’s 50 day simple moving average is $433.31 and its two-hundred day simple moving average is $394.26. Cavco Industries has a 1-year low of $271.48 and a 1-year high of $484.80.

Cavco Industries (NASDAQ:CVCO) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.58. The company had revenue of $507.46 million for 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 last year, the firm posted $4.76 earnings per share. As a group, research analysts anticipate that Cavco Industries will post 18 earnings per share for the current fiscal year.

Analyst Ratings Changes

CVCO has been the subject of several recent analyst reports. Wedbush lifted their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Craig Hallum upped their target price on shares of Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a report on Monday, November 4th.

Insider Transactions at Cavco Industries

In other news, Director Steven G. Bunger sold 4,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $409.20, for a total value of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares of the company’s stock, valued at $2,679,032.40. This represents a 37.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $401.40, for a total transaction of $35,323.20. Following the transaction, the chief accounting officer now directly owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. This trade represents a 7.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,213 shares of company stock valued at $1,729,458 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

A number of institutional investors have recently added to or reduced their stakes in CVCO. Capital World Investors lifted its stake in shares of Cavco Industries by 2.9% in the 1st quarter. Capital World Investors now owns 605,925 shares of the construction company’s stock valued at $241,800,000 after purchasing an additional 17,125 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cavco Industries by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after purchasing an additional 12,822 shares in the last quarter. Boston Trust Walden Corp boosted its stake in shares of Cavco Industries by 0.8% during the 2nd quarter. Boston Trust Walden Corp now owns 196,046 shares of the construction company’s stock valued at $67,865,000 after buying an additional 1,541 shares during the last quarter. FMR LLC increased its holdings in Cavco Industries by 7.0% in the third quarter. FMR LLC now owns 135,444 shares of the construction company’s stock valued at $58,002,000 after buying an additional 8,829 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Cavco Industries by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock valued at $46,872,000 after buying an additional 5,935 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company’s stock.

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.