Cavco Industries (NASDAQ:CVCO) CAO Sells $202,464.00 in Stock

Key Points

• Cavco Industries’ chief accounting officer Paul Bigbee sold 342 shares at an average price of $592, generating $202,464 and reducing his direct ownership by 31.73% to 736 shares.
• Cavco shares recently traded at $598.85, within their $443.33–$713.01 12-month range. The company exceeded revenue expectations in its latest quarter but missed analysts’ earnings-per-share estimate, reporting $5.43 versus $5.69 expected.
• Analyst sentiment is mixed, with ratings ranging from strong buy to sell; MarketBeat reports a consensus “Hold” rating and a $700 average price target. Institutional investors own 95.56% of the stock.

Cavco Industries, Inc. (NASDAQ:CVCO - Get Free Report) CAO Paul Bigbee sold 342 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total value of $202,464.00. Following the completion of the transaction, the chief accounting officer directly owned 736 shares of the company's stock, valued at $435,712. This trade represents a 31.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, May 28th, Paul Bigbee sold 200 shares of Cavco Industries stock. The shares were sold at an average price of $537.75, for a total value of $107,550.00.

Cavco Industries Stock Performance

Shares of NASDAQ:CVCO traded up $14.08 on Wednesday, hitting $598.85. The company's stock had a trading volume of 101,389 shares, compared to its average volume of 158,393. Cavco Industries, Inc. has a 12 month low of $443.33 and a 12 month high of $713.01. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 26.06 and a beta of 1.29. The stock's 50-day moving average is $584.05 and its two-hundred day moving average is $543.45.

Cavco Industries (NASDAQ:CVCO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The construction company reported $5.43 earnings per share for the quarter, missing analysts' consensus estimates of $5.69 by ($0.26). The company had revenue of $609.96 million for the quarter, compared to the consensus estimate of $590.54 million. Cavco Industries had a net margin of 7.89% and a return on equity of 16.51%. Equities analysts expect that Cavco Industries, Inc. will post 22.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Zelman & Associates lowered shares of Cavco Industries from an "outperform" rating to a "neutral" rating in a research note on Thursday, August 6th. Zacks Research lowered Cavco Industries from a "hold" rating to a "strong sell" rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Finally, UBS Group started coverage on Cavco Industries in a report on Friday, June 5th. They issued a "buy" rating and a $700.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $700.00.

Institutional Trading of Cavco Industries

A number of large investors have recently added to or reduced their stakes in CVCO. Parkside Financial Bank & Trust lifted its holdings in Cavco Industries by 13.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company's stock valued at $90,000 after purchasing an additional 18 shares during the last quarter. Sheets Smith Wealth Management grew its stake in Cavco Industries by 0.9% during the first quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company's stock worth $1,090,000 after buying an additional 20 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cavco Industries by 12.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company's stock worth $86,000 after buying an additional 22 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Cavco Industries by 8.6% in the second quarter. GAMMA Investing LLC now owns 415 shares of the construction company's stock valued at $255,000 after acquiring an additional 33 shares during the last quarter. Finally, Aristides Capital LLC raised its stake in shares of Cavco Industries by 4.6% in the fourth quarter. Aristides Capital LLC now owns 902 shares of the construction company's stock valued at $533,000 after acquiring an additional 40 shares during the last quarter. 95.56% of the stock is currently owned by institutional investors.

Cavco Industries Company Profile

Cavco Industries, Inc is a leading designer, manufacturer and retailer of factory-built homes and modular structures. The company produces a range of HUD-code manufactured homes, modular buildings, park model RVs and cabins through its network of production facilities. Its offerings cater to both residential and commercial markets, including customizable single- and multi-section homes, workforce and affordable housing solutions, educational and healthcare modules, as well as specialty lodging products for the recreational vehicle and hospitality industries.

Since its founding in 1967, Cavco has grown through strategic investments and acquisitions, expanding its footprint across the United States and into parts of Canada and Mexico.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source