Cavco Industries (NASDAQ:CVCO) CAO Paul Bigbee Sells 300 Shares

Key Points

• Paul Bigbee, the Chief Accounting Officer of Cavco Industries, sold 300 shares of the company's stock at an average price of $530.45, bringing his total ownership down to 774 shares, which is a 27.93% decrease in his position.
• Cavco Industries reported an EPS of $6.42 for the last quarter, exceeding analysts' expectations of $5.81 and generating revenue of $556.86 million, surpassing projections of $524.97 million.
• Brokerage firm Wedbush maintained a "neutral" rating on Cavco Industries, setting a price target of $550.00, while others have shifted ratings, reflecting mixed investor sentiment.

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) CAO Paul Bigbee sold 300 shares of Cavco Industries stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $530.45, for a total transaction of $159,135.00. Following the transaction, the chief accounting officer directly owned 774 shares in the company, valued at approximately $410,568.30. This represents a 27.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Paul Bigbee also recently made the following trade(s):

• On Friday, August 22nd, Paul Bigbee sold 300 shares of Cavco Industries stock. The stock was sold at an average price of $522.68, for a total transaction of $156,804.00.

Cavco Industries Stock Performance

Shares of Cavco Industries stock traded down $5.78 during mid-day trading on Tuesday, hitting $524.71. 59,172 shares of the stock were exchanged, compared to its average volume of 129,250. Cavco Industries, Inc. has a 12 month low of $390.46 and a 12 month high of $549.99. The company has a 50-day simple moving average of $457.17 and a 200 day simple moving average of $476.70. The company has a market capitalization of $4.16 billion, a P/E ratio of 22.74 and a beta of 1.23.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CVCO. Wedbush restated a "neutral" rating and set a $550.00 price target on shares of Cavco Industries in a research note on Monday, August 4th. Wall Street Zen lowered shares of Cavco Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Cavco Industries presently has an average rating of "Moderate Buy" and a consensus price target of $522.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVCO. GAMMA Investing LLC grew its position in shares of Cavco Industries by 71,961.9% during the 1st 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 grew its position in shares of Cavco Industries by 5,371.3% during the 2nd 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 grew its position in shares of Cavco Industries by 1,030.9% during the 4th 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. grew its position in shares of Cavco Industries by 64.0% during the 1st 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 grew its position in shares of Cavco Industries by 76.9% during the 2nd 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. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

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.

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