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

Cavco Industries, Inc. (NASDAQ:CVCO) saw a significant increase in short interest in 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 volume of 63,300 shares, the days-to-cover ratio is presently 2.6 days. Approximately 2.1% of the company’s shares are short sold.

Cavco Industries Price Performance

CVCO traded up $0.89 on Monday, hitting $466.12. 7,035 shares of the stock were exchanged, compared to its average volume of 64,397. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 26.38 and a beta of 1.24. Cavco Industries has a 12 month low of $271.48 and a 12 month high of $484.80. The business has a 50-day moving average of $433.31 and a two-hundred day moving average of $394.26.

Cavco Industries (NASDAQ:CVCO) last posted its earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.58. Cavco Industries had a net margin of 8.00% and a return on equity of 14.38%. The firm had revenue of $507.46 million during the quarter, compared to analysts’ expectations of $480.10 million. During the same quarter in the prior year, the business earned $4.76 earnings per share. Equities research analysts expect that Cavco Industries will post 18 earnings per share for the current fiscal year.

Insider Transactions at Cavco Industries

In other Cavco Industries 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 transaction of $1,636,800.00. Following the sale, the director now directly owns 6,547 shares of the company’s stock, valued at approximately $2,679,032.40. This represents a 37.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Paul Bigbee sold 88 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total transaction of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares of the company’s stock, valued at approximately $433,913.40. This 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 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its position in Cavco Industries by 9,900.0% during the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock valued at $35,000 after purchasing an additional 99 shares during the period. Farther Finance Advisors LLC grew its position in 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 period. Avior Wealth Management LLC purchased a new position in Cavco Industries during the 3rd quarter worth $64,000. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 64 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Cavco Industries during the 2nd quarter worth $138,000. Institutional investors and hedge funds own 95.56% of the company’s stock.

Analyst Ratings Changes

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

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.