Cavco Industries (NASDAQ:CVCO) Director Sells $966,420.00 in Stock

Key Points

• Susan L. Blount, a director at Cavco Industries, sold 2,000 shares for approximately $966,420, resulting in a 39.02% reduction in her ownership of the company’s stock.
• Cavco Industries reported a strong earnings result of $6.42 EPS for the latest quarter, surpassing the analysts’ expectation of $5.81.
• Several institutional investors have increased their stakes in Cavco, with 95.56% of the company's stock now owned by institutional investors.

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) Director Susan L. Blount sold 2,000 shares of Cavco Industries stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $483.21, for a total transaction of $966,420.00. Following the completion of the transaction, the director owned 3,126 shares in the company, valued at approximately $1,510,514.46. This represents a 39.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Cavco Industries Trading Up 6.6%

Shares of Cavco Industries stock traded up $32.26 on Friday, reaching $519.55. 163,155 shares of the stock were exchanged, compared to its average volume of 120,494. Cavco Industries, Inc. has a 1-year low of $390.40 and a 1-year high of $549.99. The business has a fifty day moving average price of $440.32 and a two-hundred day moving average price of $477.35. The firm has a market capitalization of $4.11 billion, a PE ratio of 22.52 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $6.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.81 by $0.61. Cavco Industries had a net margin of 8.99% and a return on equity of 18.52%. The business had revenue of $556.86 million for the quarter, compared to analyst estimates of $524.97 million. Research analysts expect that Cavco Industries, Inc. will post 21.93 EPS for the current year.

Institutional Trading of Cavco Industries

Several institutional investors and hedge funds have recently modified their holdings of CVCO. GAMMA Investing LLC lifted its holdings in shares of Cavco Industries by 71,961.9% in the first quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company's stock valued at $119,077,000 after purchasing an additional 228,839 shares in the last quarter. Boston Partners lifted its holdings in shares of Cavco Industries by 5,371.3% in the second quarter. Boston Partners now owns 201,947 shares of the construction company's stock valued at $87,847,000 after purchasing an additional 198,256 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Cavco Industries by 1,030.9% in the fourth quarter. Janus Henderson Group PLC now owns 72,534 shares of the construction company's stock valued at $32,371,000 after purchasing an additional 66,120 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Cavco Industries by 64.0% in the first quarter. Ameriprise Financial Inc. now owns 155,765 shares of the construction company's stock valued at $80,940,000 after purchasing an additional 60,779 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Cavco Industries by 76.9% in the second quarter. Schroder Investment Management Group now owns 130,106 shares of the construction company's stock valued at $56,522,000 after purchasing an additional 56,578 shares in the last quarter. Hedge funds and other institutional investors own 95.56% of the company's stock.

Analyst Upgrades and Downgrades

CVCO has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Wedbush reissued a "neutral" rating and set a $550.00 price objective on shares of Cavco Industries in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Cavco Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $522.50.

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.