Cavco Industries, Inc. (NASDAQ:CVCO) Sees Large Increase in Short Interest

Cavco Industries, Inc. (NASDAQ:CVCO) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 192,800 shares, a growth of 6.9% from the November 30th total of 180,300 shares. Based on an average daily trading volume, of 57,400 shares, the short-interest ratio is presently 3.4 days. Currently, 2.5% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Craig Hallum upped their target price on Cavco Industries from $422.00 to $495.00 and gave the company a “buy” rating in a research report on Monday, November 4th. StockNews.com lowered Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Wedbush cut shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price for the company. in a research report on Tuesday, December 3rd.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director Susan L. Blount sold 750 shares of the company’s stock in a transaction 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 directly owns 2,086 shares in the company, valued at $1,012,878.16. The trade was a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $458.68, for a total transaction of $57,335.00. Following the sale, the director now owns 2,861 shares of the company’s stock, valued at approximately $1,312,283.48. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,100 shares of company stock worth $535,642 over the last 90 days. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of Cavco Industries by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock valued at $96,107,000 after acquiring an additional 12,822 shares in the last quarter. FMR LLC grew its stake in shares of Cavco Industries by 7.0% in the third quarter. FMR LLC now owns 135,444 shares of the construction company’s stock worth $58,002,000 after purchasing an additional 8,829 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cavco Industries by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 109,453 shares of the construction company’s stock valued at $46,872,000 after purchasing an additional 5,935 shares during the period. Fisher Asset Management LLC raised its position in Cavco Industries by 8.5% during the 3rd quarter. Fisher Asset Management LLC now owns 71,487 shares of the construction company’s stock worth $30,614,000 after purchasing an additional 5,620 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Cavco Industries by 1,610.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after buying an additional 57,278 shares during the period. Institutional investors own 95.56% of the company’s stock.

Cavco Industries Trading Up 0.1 %

NASDAQ CVCO traded up $0.42 during midday trading on Thursday, hitting $446.65. The company had a trading volume of 5,360 shares, compared to its average volume of 63,926. Cavco Industries has a twelve month low of $304.10 and a twelve month high of $544.08. The company has a market capitalization of $3.62 billion, a PE ratio of 25.25 and a beta of 1.29. The firm has a 50-day moving average price of $469.98 and a 200-day moving average price of $421.87.

Cavco Industries (NASDAQ:CVCO) last released its 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 during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $4.76 earnings per share. On average, equities analysts anticipate that Cavco Industries will post 18 EPS for the current year.

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.