Short Interest in Cavco Industries, Inc. (NASDAQ:CVCO) Grows By 7.0%

Cavco Industries, Inc. (NASDAQ:CVCO) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 204,500 shares, an increase of 7.0% from the March 31st total of 191,100 shares. Based on an average daily volume of 64,100 shares, the days-to-cover ratio is presently 3.2 days. Currently, 2.6% of the shares of the company are short sold.

Cavco Industries Stock Up 0.2 %

NASDAQ CVCO opened at $365.00 on Thursday. Cavco Industries has a 52-week low of $233.84 and a 52-week high of $400.99. The business’s 50-day moving average price is $374.17 and its 200 day moving average price is $332.29. The firm has a market cap of $3.05 billion, a P/E ratio of 18.52 and a beta of 1.15.

Cavco Industries (NASDAQ:CVCO) last released its quarterly earnings results on Friday, February 2nd. The construction company reported $4.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.36 by ($0.09). Cavco Industries had a return on equity of 17.00% and a net margin of 9.25%. The company had revenue of $446.77 million for the quarter, compared to analysts’ expectations of $428.40 million. During the same period in the prior year, the business earned $6.66 EPS. As a group, analysts anticipate that Cavco Industries will post 19.46 earnings per share for the current year.

Insiders Place Their Bets

In other Cavco Industries news, CAO Paul Bigbee sold 262 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $367.13, for a total transaction of $96,188.06. Following the transaction, the chief accounting officer now owns 766 shares of the company’s stock, valued at $281,221.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Matthew A. Nino sold 2,357 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $360.00, for a total transaction of $848,520.00. Following the transaction, the insider now owns 1,248 shares of the company’s stock, valued at $449,280. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Paul Bigbee sold 262 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $367.13, for a total value of $96,188.06. Following the transaction, the chief accounting officer now directly owns 766 shares in the company, valued at approximately $281,221.58. The disclosure for this sale can be found here. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Cavco Industries

A number of hedge funds have recently added to or reduced their stakes in CVCO. SG Americas Securities LLC acquired a new stake in Cavco Industries in the third quarter valued at about $1,051,000. Sheets Smith Wealth Management lifted its position in Cavco Industries by 2.7% in the third quarter. Sheets Smith Wealth Management now owns 2,090 shares of the construction company’s stock valued at $555,000 after purchasing an additional 54 shares during the period. Park Avenue Securities LLC acquired a new stake in Cavco Industries in the third quarter valued at about $390,000. Punch & Associates Investment Management Inc. acquired a new stake in Cavco Industries in the third quarter valued at about $6,281,000. Finally, Cascade Investment Advisors Inc. lifted its position in Cavco Industries by 46.7% in the third quarter. Cascade Investment Advisors Inc. now owns 4,276 shares of the construction company’s stock valued at $1,136,000 after purchasing an additional 1,361 shares during the period. Institutional investors and hedge funds own 95.56% of the company’s stock.

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.