Cavco Industries, Inc. (NASDAQ:CVCO) Short Interest Up 19.8% in August

Key Points

• Cavco Industries experienced a significant increase in short interest, rising by 19.8% in August to a total of 263,500 shares.
• Insiders sold 5,600 shares of the company stock valued at approximately $2.82 million over the last 90 days, indicating notable insider activity.
• Analysts have assigned a consensus price target of $522.50 for Cavco Industries, reflecting a moderate buy rating amid fluctuating evaluations.

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 263,500 shares, a growth of 19.8% from the August 15th total of 220,000 shares. Approximately 3.4% of the shares of the stock are sold short. Based on an average trading volume of 166,200 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 166,200 shares, the days-to-cover ratio is currently 1.6 days. Approximately 3.4% of the shares of the stock are sold short.

Cavco Industries Trading Up 0.7%

CVCO traded up $4.17 during trading hours on Monday, hitting $560.70. 140,619 shares of the company's stock were exchanged, compared to its average volume of 114,847. Cavco Industries has a 12-month low of $393.53 and a 12-month high of $574.20. The firm has a 50 day moving average of $484.52 and a 200 day moving average of $478.25. The firm has a market cap of $4.44 billion, a P/E ratio of 24.30 and a beta of 1.23.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The construction company reported $6.42 EPS for the quarter, beating 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 company had revenue of $556.86 million for the quarter, compared to the consensus estimate of $524.97 million. As a group, research analysts expect that Cavco Industries will post 21.93 EPS for the current fiscal year.

Insider Buying and Selling at Cavco Industries

In other Cavco Industries news, Director Richard A. Kerley sold 500 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $480.55, for a total value of $240,275.00. Following the transaction, the director directly owned 7,169 shares in the company, valued at $3,445,062.95. The trade was a 6.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Paul Bigbee sold 300 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $530.45, for a total transaction of $159,135.00. Following the completion of the transaction, the chief accounting officer owned 774 shares in the company, valued at $410,568.30. The trade was a 27.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,600 shares of company stock worth $2,820,884 in the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CVCO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Cavco Industries by 3.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,709 shares of the construction company's stock valued at $2,101,000 after buying an additional 137 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Cavco Industries by 42.8% in the 4th quarter. ProShare Advisors LLC now owns 2,492 shares of the construction company's stock valued at $1,112,000 after buying an additional 747 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Cavco Industries in the 4th quarter valued at $267,000. Vident Advisory LLC grew its position in shares of Cavco Industries by 574.2% in the 4th quarter. Vident Advisory LLC now owns 3,553 shares of the construction company's stock valued at $1,585,000 after buying an additional 3,026 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Cavco Industries by 22.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,492 shares of the construction company's stock valued at $6,913,000 after buying an additional 2,802 shares during the last quarter. 95.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CVCO shares. Wedbush reiterated a "neutral" rating and issued a $550.00 target price on shares of Cavco Industries in a report on Monday, August 4th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Cavco Industries currently 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.