Cavco Industries, Inc. (NASDAQ:CVCO) Director Susan L. Blount Sells 750 Shares

Cavco Industries, Inc. (NASDAQ:CVCO) Director Susan L. Blount sold 750 shares of Cavco Industries stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $485.56, for a total value of $364,170.00. Following the transaction, the director now owns 2,086 shares of the company’s stock, valued at approximately $1,012,878.16. This represents a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Cavco Industries Stock Performance

NASDAQ:CVCO opened at $473.29 on Wednesday. Cavco Industries, Inc. has a one year low of $304.10 and a one year high of $544.08. The stock has a market cap of $3.84 billion, a PE ratio of 26.75 and a beta of 1.29. The stock has a 50 day moving average price of $466.09 and a 200 day moving average price of $414.91.

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

Hedge Funds Weigh In On Cavco Industries

A number of institutional investors have recently bought and sold shares of CVCO. Assenagon Asset Management S.A. grew its stake in shares of Cavco Industries by 1,610.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock valued at $26,052,000 after buying an additional 57,278 shares during the period. Cerity Partners LLC grew its position in Cavco Industries by 91.8% in the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after acquiring an additional 22,451 shares during the period. Atom Investors LP acquired a new stake in Cavco Industries during the third quarter worth $7,572,000. Harbor Capital Advisors Inc. raised its position in Cavco Industries by 147.0% in the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock valued at $9,592,000 after purchasing an additional 13,331 shares during the period. Finally, Geode Capital Management LLC lifted its stake 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 during the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several research reports. Craig Hallum boosted their price target on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com lowered shares of Cavco Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Wedbush downgraded shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 price target on the stock. in a research note on Tuesday, December 3rd.

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.