Cavco Industries (NASDAQ:CVCO) Shares Down 1.1% – Should You Sell?

Cavco Industries, Inc. (NASDAQ:CVCO)’s stock price was down 1.1% on Thursday . The company traded as low as $491.51 and last traded at $491.51. Approximately 4,041 shares changed hands during trading, a decline of 94% from the average daily volume of 63,822 shares. The stock had previously closed at $497.01.

Wall Street Analyst Weigh In

CVCO has been the topic of several recent analyst reports. Craig Hallum increased their price objective 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. StockNews.com lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Wedbush lowered Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price objective for the company. in a research note on Tuesday, December 3rd.

Cavco Industries Trading Down 2.8 %

The business has a fifty day simple moving average of $462.71 and a two-hundred day simple moving average of $411.32. The company has a market cap of $3.93 billion, a PE ratio of 27.40 and a beta of 1.29.

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 the consensus estimate of $4.70 by $0.58. The firm 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 period last year, the firm posted $4.76 earnings per share. Equities analysts expect that Cavco Industries, Inc. will post 18 EPS for the current year.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 100 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $502,497.63. This trade represents a 9.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julia Sze sold 125 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $503.31, for a total transaction of $62,913.75. Following the transaction, the director now directly owns 2,736 shares in the company, valued at approximately $1,377,056.16. The trade was a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 350 shares of company stock valued at $171,472 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Cavco Industries

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Cavco Industries by 9,900.0% in the second quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after acquiring an additional 99 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Cavco Industries by 390.5% in the 3rd 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 last quarter. Avior Wealth Management LLC acquired a new position in shares of Cavco Industries in the 3rd quarter valued at $64,000. GAMMA Investing LLC grew its holdings in shares of Cavco Industries by 30.2% during the 3rd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock worth $118,000 after purchasing an additional 64 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Cavco Industries during the 2nd quarter worth about $138,000. 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.