Cavco Industries (NASDAQ:CVCO) Reaches New 1-Year High – What’s Next?

Cavco Industries, Inc. (NASDAQ:CVCO)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $549.99 and last traded at $540.39, with a volume of 4058 shares changing hands. The stock had previously closed at $524.14.

Analyst Ratings Changes

Several research firms recently commented on CVCO. Wedbush reaffirmed a “neutral” rating and set a $550.00 price objective (up from $480.00) on shares of Cavco Industries in a research report on Monday, February 3rd. StockNews.com raised Cavco Industries from a “hold” rating to a “buy” rating in a research report on Friday, April 25th.

Cavco Industries Stock Down 1.8%

The firm has a 50 day moving average price of $500.03 and a 200 day moving average price of $489.86. The stock has a market cap of $4.28 billion, a P/E ratio of 25.98 and a beta of 1.29.

Insider Transactions at Cavco Industries

In other news, Director David A. Greenblatt sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $528.88, for a total transaction of $2,115,520.00. Following the sale, the director now directly owns 15,286 shares of the company’s stock, valued at $8,084,459.68. This represents a 20.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Cavco Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Cavco Industries by 5.1% in the first quarter. Vanguard Group Inc. now owns 774,842 shares of the construction company’s stock worth $402,631,000 after purchasing an additional 37,249 shares during the period. FMR LLC increased its stake in Cavco Industries by 118.8% in the fourth quarter. FMR LLC now owns 296,343 shares of the construction company’s stock worth $132,237,000 after purchasing an additional 160,899 shares during the period. GAMMA Investing LLC increased its stake in Cavco Industries by 71,961.9% in the first quarter. GAMMA Investing LLC now owns 229,157 shares of the construction company’s stock worth $119,077,000 after purchasing an additional 228,839 shares during the period. Geode Capital Management LLC increased its stake in Cavco Industries by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 227,024 shares of the construction company’s stock worth $101,324,000 after purchasing an additional 2,640 shares during the period. Finally, Invesco Ltd. increased its stake in Cavco Industries by 7.5% in the first quarter. Invesco Ltd. now owns 196,210 shares of the construction company’s stock worth $101,957,000 after purchasing an additional 13,753 shares during the period. Hedge funds and other institutional investors own 95.56% of the company’s stock.

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.