Cavco Industries, Inc. (NASDAQ:CVCO) Sees Large Increase in Short Interest

Cavco Industries, Inc. (NASDAQ:CVCO) was the target of a significant increase in short interest in 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. Approximately 2.6% of the shares of the stock are short sold. Based on an average daily volume of 64,100 shares, the days-to-cover ratio is presently 3.2 days.

Cavco Industries Trading Up 0.2 %

CVCO opened at $365.00 on Thursday. The firm has a market capitalization of $3.05 billion, a PE ratio of 18.52 and a beta of 1.15. Cavco Industries has a twelve month low of $233.84 and a twelve month high of $400.99. The firm’s 50-day moving average price is $374.17 and its 200 day moving average price is $332.29.

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

Insider Activity

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

Hedge Funds Weigh In On Cavco Industries

A number of institutional investors have recently bought and sold shares of CVCO. Group One Trading L.P. purchased a new position in Cavco Industries during the third quarter worth about $26,000. Headinvest LLC purchased a new position in Cavco Industries during the third quarter worth about $26,000. Mather Group LLC. purchased a new position in Cavco Industries during the first quarter worth about $60,000. GAMMA Investing LLC purchased a new position in Cavco Industries during the fourth quarter worth about $77,000. Finally, Simplex Trading LLC purchased a new position in Cavco Industries during the fourth quarter worth about $140,000. 95.56% of the stock is owned by hedge funds and other institutional investors.

About Cavco Industries

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.