Cavco Industries, Inc. (NASDAQ:CVCO) Short Interest Up 13.0% in October

Cavco Industries, Inc. (NASDAQ:CVCO) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 162,900 shares, a growth of 13.0% from the October 15th total of 144,200 shares. Based on an average trading volume of 63,300 shares, the days-to-cover ratio is currently 2.6 days. Approximately 2.1% of the shares of the company are sold short.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 88 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 approximately $433,913.40. This trade represents a 7.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia Sze sold 125 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $458.68, for a total value of $57,335.00. Following the completion of the sale, the director now owns 2,861 shares of the company’s stock, valued at $1,312,283.48. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,213 shares of company stock worth $1,729,458. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cavco Industries

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its stake in shares of Cavco Industries by 12.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,923 shares of the construction company’s stock valued at $767,000 after buying an additional 218 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Cavco Industries in the 1st quarter valued at $197,000. Russell Investments Group Ltd. increased its stake in shares of Cavco Industries by 2.5% in the 1st quarter. Russell Investments Group Ltd. now owns 9,058 shares of the construction company’s stock valued at $3,615,000 after buying an additional 224 shares during the period. ProShare Advisors LLC increased its stake in shares of Cavco Industries by 3.3% in the 1st quarter. ProShare Advisors LLC now owns 1,676 shares of the construction company’s stock valued at $669,000 after buying an additional 54 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Cavco Industries in the 1st quarter valued at $209,000. Institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on CVCO shares. StockNews.com upgraded Cavco Industries from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Craig Hallum raised their target price on Cavco Industries from $422.00 to $495.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Wedbush raised their target price on Cavco Industries from $425.00 to $455.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th.

Cavco Industries Stock Up 0.3 %

CVCO traded up $1.51 during trading on Monday, hitting $466.74. The company’s stock had a trading volume of 5,748 shares, compared to its average volume of 64,391. The firm’s 50 day moving average price is $433.31 and its two-hundred day moving average price is $394.26. Cavco Industries has a 12 month low of $271.48 and a 12 month high of $484.80. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 26.30 and a beta of 1.24.

Cavco Industries (NASDAQ:CVCO) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.58. Cavco Industries had a return on equity of 14.38% and a net margin of 8.00%. The firm had revenue of $507.46 million during the quarter, compared to the consensus estimate of $480.10 million. During the same quarter in the previous year, the company posted $4.76 EPS. On average, sell-side analysts forecast that Cavco Industries will post 18 earnings per share for the current year.

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.