Short Interest in Cavco Industries, Inc. (NASDAQ:CVCO) Grows By 6.9%

Cavco Industries, Inc. (NASDAQ:CVCO) was the target of a large growth in short interest in 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. Currently, 2.5% of the company’s stock are sold short. Based on an average daily volume of 57,400 shares, the days-to-cover ratio is currently 3.4 days.

Insider Activity

In related 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 transaction of $364,170.00. Following the completion of the transaction, the director now directly owns 2,086 shares in the company, valued at $1,012,878.16. This represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the sale, the director now owns 2,861 shares of the company’s stock, valued at $1,312,283.48. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,100 shares of company stock worth $535,642. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its position in shares of Cavco Industries by 1,610.3% during the third quarter. Assenagon Asset Management S.A. now owns 60,835 shares of the construction company’s stock worth $26,052,000 after purchasing an additional 57,278 shares during the period. Cerity Partners LLC boosted its position in shares of Cavco Industries by 91.8% during the third quarter. Cerity Partners LLC now owns 46,915 shares of the construction company’s stock worth $20,091,000 after buying an additional 22,451 shares during the period. Atom Investors LP acquired a new stake in shares of Cavco Industries in the third quarter valued at approximately $7,572,000. Harbor Capital Advisors Inc. lifted its position in shares of Cavco Industries by 147.0% in the third quarter. Harbor Capital Advisors Inc. now owns 22,399 shares of the construction company’s stock worth $9,592,000 after purchasing an additional 13,331 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Cavco Industries by 6.1% during the third quarter. Geode Capital Management LLC now owns 224,384 shares of the construction company’s stock worth $96,107,000 after purchasing an additional 12,822 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CVCO shares. Craig Hallum upped their price target on shares of 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 cut Cavco Industries from a “buy” rating to a “hold” rating in a report on Friday, December 20th. Finally, Wedbush lowered shares of Cavco Industries from an “outperform” rating to a “neutral” rating and set a $480.00 target price on the stock. in a research note on Tuesday, December 3rd.

Cavco Industries Stock Up 1.2 %

Shares of Cavco Industries stock traded up $5.17 during trading on Thursday, reaching $451.40. 3,489 shares of the company were exchanged, compared to its average volume of 63,926. The business has a 50-day moving average price of $469.98 and a 200-day moving average price of $421.87. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 25.52 and a beta of 1.29. Cavco Industries has a twelve month low of $304.10 and a twelve month high of $544.08.

Cavco Industries (NASDAQ:CVCO) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.58. The company 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 business posted $4.76 EPS. On average, equities research analysts forecast that Cavco Industries will post 18 EPS for the current fiscal year.

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.