Paul Bigbee Sells 342 Shares of Cavco Industries (NASDAQ:CVCO) Stock

Cavco Industries, Inc. (NASDAQ:CVCO) CAO Paul Bigbee sold 342 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $592.00, for a total value of $202,464.00. Following the transaction, the chief accounting officer 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

Cavco Industries Price Performance

Shares of CVCO stock opened at $578.86 on Friday. The stock has a market capitalization of $4.45 billion, a PE ratio of 25.19 and a beta of 1.29. The business’s 50 day simple moving average is $584.33 and its 200 day simple moving average is $543.93. Cavco Industries, Inc. has a one year low of $443.33 and a one year high of $713.01.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Thursday, July 30th. The construction company reported $5.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.69 by ($0.26). The firm had revenue of $609.96 million for the quarter, compared to the consensus estimate of $590.54 million. Cavco Industries had a return on equity of 16.51% and a net margin of 7.89%. As a group, research analysts expect that Cavco Industries, Inc. will post 22.75 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Silvant Capital Management LLC purchased a new position in shares of Cavco Industries in the 2nd quarter worth about $25,000. Global Retirement Partners LLC bought a new stake in Cavco Industries in the second quarter worth about $28,000. Allworth Financial LP bought a new stake in Cavco Industries in the second quarter worth about $44,000. Aster Capital Management DIFC Ltd purchased a new position in Cavco Industries in the fourth quarter valued at about $46,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Cavco Industries during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.

Analyst Ratings Changes

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

About Cavco Industries

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.