Cavco Industries (NASDAQ:CVCO) Shares Gap Down – Here’s Why

Cavco Industries, Inc. (NASDAQ:CVCO) shares gapped down prior to trading on Monday . The stock had previously closed at $448.26, but opened at $434.77. Cavco Industries shares last traded at $429.86, with a volume of 7,510 shares traded.

Wall Street Analysts Forecast Growth

CVCO has been the subject of several research analyst reports. Wedbush boosted their price objective on shares of Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. Craig Hallum boosted their price objective on shares of Cavco Industries from $382.00 to $422.00 and gave the stock a “buy” rating in a research report on Monday, August 5th.

Cavco Industries Stock Performance

The firm’s 50-day moving average is $416.79 and its two-hundred day moving average is $384.70. The stock has a market cap of $3.41 billion, a P/E ratio of 22.44 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its earnings results on Thursday, August 1st. The construction company reported $4.11 EPS for the quarter, missing the consensus estimate of $4.97 by ($0.86). The business had revenue of $477.60 million for the quarter, compared to the consensus estimate of $487.80 million. Cavco Industries had a net margin of 8.12% and a return on equity of 14.23%. During the same quarter in the previous year, the firm posted $5.29 EPS. As a group, research analysts forecast that Cavco Industries, Inc. will post 17.35 EPS for the current year.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, SVP Steven K. Like sold 575 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares in the company, valued at approximately $460,108.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Paul Bigbee sold 88 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $401.40, for a total value of $35,323.20. Following the completion of the sale, the chief accounting officer now owns 1,081 shares in the company, valued at $433,913.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Steven K. Like sold 575 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $366.62, for a total transaction of $210,806.50. Following the completion of the sale, the senior vice president now owns 1,255 shares of the company’s stock, valued at approximately $460,108.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,663 shares of company stock worth $1,882,930. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Cavco Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in Cavco Industries by 9,900.0% in the 2nd quarter. Blue Trust Inc. now owns 100 shares of the construction company’s stock worth $35,000 after purchasing an additional 99 shares during the period. GAMMA Investing LLC boosted its stake in Cavco Industries by 30.2% in 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. nVerses Capital LLC acquired a new position in shares of Cavco Industries during the 2nd quarter worth about $138,000. SG Americas Securities LLC acquired a new position in shares of Cavco Industries during the 1st quarter worth about $197,000. Finally, TradeLink Capital LLC acquired a new position in shares of Cavco Industries during the 2nd quarter worth about $202,000. 95.56% of the stock is owned by institutional investors and hedge funds.

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.