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

Cavco Industries, Inc. (NASDAQ:CVCO) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 186,700 shares, a decline of 10.8% from the August 31st total of 209,400 shares. Based on an average daily trading volume, of 69,500 shares, the days-to-cover ratio is presently 2.7 days. Approximately 2.4% of the shares of the stock are sold short.

Insider Activity

In related news, SVP Steven K. Like sold 575 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the sale, the senior vice president now owns 1,255 shares in the company, valued at approximately $460,108.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cavco Industries news, SVP Steven K. Like sold 575 shares of the company’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 $460,108.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the sale, the chief accounting officer now directly owns 1,081 shares in the company, valued at approximately $433,913.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,663 shares of company stock worth $1,882,930. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cavco Industries

A number of institutional investors have recently added to or reduced their stakes in CVCO. Aristides Capital LLC lifted its holdings in shares of Cavco Industries by 150.2% during the second quarter. Aristides Capital LLC now owns 1,699 shares of the construction company’s stock worth $588,000 after purchasing an additional 1,020 shares during the period. Creative Planning increased its holdings in Cavco Industries by 116.8% in the second quarter. Creative Planning now owns 1,136 shares of the construction company’s stock valued at $393,000 after purchasing an additional 612 shares during the period. Algert Global LLC bought a new position in Cavco Industries during the 2nd quarter worth $262,000. The Manufacturers Life Insurance Company lifted its holdings in Cavco Industries by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,602 shares of the construction company’s stock worth $1,593,000 after buying an additional 87 shares during the period. Finally, AYAL Capital Advisors Ltd grew its position in shares of Cavco Industries by 61.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 29,861 shares of the construction company’s stock valued at $10,337,000 after buying an additional 11,361 shares during the last quarter. 95.56% of the stock is owned by institutional investors.

Cavco Industries Stock Down 0.8 %

NASDAQ CVCO opened at $428.24 on Tuesday. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 23.34 and a beta of 1.24. Cavco Industries has a twelve month low of $233.84 and a twelve month high of $444.90. The business’s fifty day moving average is $402.76 and its 200 day moving average is $379.14.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing analysts’ consensus estimates of $4.97 by ($0.86). Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. The firm had revenue of $477.60 million for the quarter, compared to analyst estimates of $487.80 million. During the same period in the previous year, the business posted $5.29 earnings per share. On average, research analysts anticipate that Cavco Industries will post 17.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on CVCO. Craig Hallum increased their target price on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Cavco Industries in a research report on Friday, August 2nd.

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.