Cavco Industries (NASDAQ:CVCO) EVP Allison Aden Sells 129 Shares

Cavco Industries, Inc. (NASDAQ:CVCO) EVP Allison Aden sold 129 shares of Cavco Industries stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $455.76, for a total transaction of $58,793.04. Following the sale, the executive vice president owned 8,806 shares of the company’s stock, valued at approximately $4,013,422.56. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Cavco Industries Stock Performance

Cavco Industries stock traded up $6.60 during mid-day trading on Tuesday, hitting $464.71. 102,018 shares of the company traded hands, compared to its average volume of 123,796. Cavco Industries, Inc. has a one year low of $393.53 and a one year high of $713.01. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 20.19 and a beta of 1.31. The stock has a fifty day moving average price of $496.41 and a 200-day moving average price of $556.57.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Cavco Industries in the fourth quarter worth $46,000. Kemnay Advisory Services Inc. purchased a new position in shares of Cavco Industries in the fourth quarter worth $50,000. Los Angeles Capital Management LLC purchased a new position in shares of Cavco Industries in the fourth quarter worth $54,000. Danske Bank A S purchased a new position in shares of Cavco Industries in the third quarter worth $58,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Cavco Industries by 72.5% in the third quarter. CIBC Private Wealth Group LLC now owns 119 shares of the construction company’s stock worth $69,000 after buying an additional 50 shares during the period. 95.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CVCO. Zelman & Associates raised shares of Cavco Industries to an “outperform” rating in a research note on Thursday, February 5th. Zacks Research raised shares of Cavco Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. Finally, Weiss Ratings downgraded shares of Cavco Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $550.00.

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.