It is currently trading at $156.90 which is marginally over $148.04, the 50 day moving average and quite a bit higher than the 200 day moving average of $131.23. The 50 day moving average was up by +5.98% and the 200 day average went up $25.67 or +19.56%. (NASDAQ:CVCO) shares saw heavy trading volume with 53K shares changing hands in the last trading session. Volume was up 99.86% over the stocks average daily volume.
Traders are a little more bullish on shares of the company lately if you take note of the decrease in short interest. The stock realized a fall in short interest of -10.51% as of the latest report on October 13, 2017. Short interest fell from 86,998 to 77,853 over that period. The short-interest ratio decreased to 2.0 and the percentage of shorted shares is 0.01% as of October 13.
Cavco Industries, Inc. (NASDAQ:CVCO) has been the object of insider selling activity recently. Director David A. Greenblatt disclosed the sale of 3,000 shares. The shares were sold on September 20th for an average price of $136.68. The Director now owns $1,280,555 of the stock according to the SEC filing.
These funds have shifted positions in (CVCO). Victory Capital Management Inc downsized its investment by selling 271 shares a decrease of 17.9% from 06/30/2017 to 09/30/2017. Victory Capital Management Inc claims 1,246 shares worth $184,000. The value of the position overall is down by 6.6%. First Trust Advisors Lp divested its holdings by shedding 434 shares a decrease of 12.3%. First Trust Advisors Lp currently owns 3,106 shares valued at $458,000. The total value of its holdings decreased 0.2%.
As of the end of the quarter Nationwide Fund Advisors had disposed of 194 shares trimming its position 1.7%. The value in dollars went from $1,473,000 to $1,648,000 a change of $175,000 since the last quarter. As of quarter end Third Avenue Management LLC had sold a total of 64,719 shares trimming its stake by 19.3%. The value of the total investment in Cavco Industries, Inc. decreased from $43,552,000 to $40,016,000 a change of 8.1% quarter to quarter.
The P/E ratio is currently 32.36 and the market cap is 1.42B. As of the last earnings report the EPS was $4.85 and is expected to be $4.48 for the current year with 9,019,000 shares now outstanding. Next quarter’s EPS is forecasted at $1.22 with next year’s EPS anticipated to be $5.68.
Cavco Industries, Inc., launched on January 14, 2003, designs and produces factory-built homes. The Company operates through two segments: factory-built housing, which includes wholesale and retail systems-built housing operations, and financial services, which includes manufactured housing consumer finance and insurance. The Business’s factory-built homes are primarily distributed through a network of independent and the Company-owned retailers, planned community operators and residential developers. The Company markets its products under the brands, including Cavco Homes, Fleetwood Homes, Palm Harbor Homes, Fairmont Homes and Chariot Eagle. The Company is also a builder of park model recreational vehicle (RVs), vacation cabins and systems-built commercial structures, as well as modular homes built primarily under the Nationwide Homes brand..