Insider Selling: Cavco Industries (NASDAQ:CVCO) EVP Sells 1,208 Shares of Stock

by · The Markets Daily

Cavco Industries, Inc. (NASDAQ:CVCO – Get Free Report) EVP Allison Aden sold 1,208 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $600.00, for a total transaction of $724,800.00. Following the sale, the executive vice president owned 10,647 shares of the company’s stock, valued at $6,388,200. The trade was a 10.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allison Aden also recently made the following trade(s):

  • On Friday, May 15th, Allison Aden sold 129 shares of Cavco Industries stock. The shares were sold at an average price of $455.76, for a total transaction of $58,793.04.

Cavco Industries Price Performance

Shares of Cavco Industries stock traded down $0.28 on Monday, hitting $592.48. 77,256 shares of the company’s stock traded hands, compared to its average volume of 142,393. The firm’s 50-day moving average price is $518.38 and its two-hundred day moving average price is $555.34. The stock has a market capitalization of $4.55 billion, a PE ratio of 24.72 and a beta of 1.30. Cavco Industries, Inc. has a one year low of $393.80 and a one year high of $713.01.

Cavco Industries (NASDAQ:CVCO – Get Free Report) last issued its earnings results on Thursday, May 21st. The construction company reported $5.42 EPS for the quarter, beating the consensus estimate of $5.30 by $0.12. The company had revenue of $550.13 million during the quarter, compared to analysts’ expectations of $571.06 million. Cavco Industries had a net margin of 8.49% and a return on equity of 17.55%. On average, analysts forecast that Cavco Industries, Inc. will post 25 earnings per share for the current fiscal year.

Institutional Trading of Cavco Industries

A number of large investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its position in shares of Cavco Industries by 13.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 152 shares of the construction company’s stock valued at $90,000 after buying an additional 18 shares in the last quarter. Sheets Smith Wealth Management increased its position in shares of Cavco Industries by 0.9% in the 1st quarter. Sheets Smith Wealth Management now owns 2,250 shares of the construction company’s stock valued at $1,090,000 after buying an additional 20 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Cavco Industries by 12.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 199 shares of the construction company’s stock valued at $86,000 after buying an additional 22 shares in the last quarter. Guidance Capital Inc. increased its position in shares of Cavco Industries by 3.3% in the 3rd quarter. Guidance Capital Inc. now owns 1,122 shares of the construction company’s stock valued at $663,000 after buying an additional 36 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Cavco Industries by 27.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 186 shares of the construction company’s stock valued at $109,000 after buying an additional 40 shares in the last quarter. Institutional investors own 95.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CVCO shares. UBS Group started coverage on shares of Cavco Industries in a research report on Friday, June 5th. They set a “buy” rating and a $700.00 target price for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cavco Industries in a research report on Tuesday, May 26th. Finally, Zacks Research upgraded shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $625.00.

Read Our Latest Analysis on CVCO

Cavco Industries Company Profile

(Get Free Report)

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.

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