Cavco Industries (NASDAQ:CVCO) Director Susan Blount Sells 2,500 Shares

Cavco Industries, Inc. (NASDAQ:CVCO) Director Susan Blount sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $519.30, for a total transaction of $1,298,250.00. Following the completion of the sale, the director owned 3,126 shares in the company, valued at $1,623,331.80. This represents a 44.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Cavco Industries Trading Up 0.2%

CVCO stock traded up $1.13 on Tuesday, hitting $520.62. The company had a trading volume of 231,449 shares, compared to its average volume of 106,716. Cavco Industries, Inc. has a 12-month low of $390.46 and a 12-month high of $549.99. The stock’s 50-day simple moving average is $444.98 and its 200 day simple moving average is $476.78. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 22.57 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.81 by $0.61. The company had revenue of $556.86 million for the quarter, compared to analysts’ expectations of $524.97 million. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. Research analysts forecast that Cavco Industries, Inc. will post 21.93 earnings per share for the current year.

Hedge Funds Weigh In On Cavco Industries

A number of institutional investors and hedge funds have recently made changes to their positions in CVCO. Farther Finance Advisors LLC grew its stake in shares of Cavco Industries by 151.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 88 shares of the construction company’s stock worth $38,000 after buying an additional 53 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Cavco Industries by 1,814.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 134 shares of the construction company’s stock worth $58,000 after purchasing an additional 127 shares during the period. CWM LLC boosted its stake in shares of Cavco Industries by 44.0% during the 1st quarter. CWM LLC now owns 157 shares of the construction company’s stock worth $82,000 after purchasing an additional 48 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cavco Industries by 12.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock worth $86,000 after purchasing an additional 22 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Cavco Industries during the 1st quarter worth about $112,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CVCO shares. Wall Street Zen downgraded shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Wedbush reiterated a “neutral” rating and issued a $550.00 price target on shares of Cavco Industries in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $522.50.

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.