PHOENIX— Cavco Industries Inc. (NASDAQ:CVCO), a manufactured housing company with a market capitalization of $4.04 billion, saw director Julia Sze sell shares worth $62,913, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on December 9, involved the sale of 125 shares at a price of $503.31 each. The stock has shown remarkable strength, gaining nearly 45% over the past six months according to InvestingPro data.
This sale was executed automatically under a Rule 10b5-1 trading plan that Sze established on August 9, 2024, and was not a discretionary transaction. The shares sold were part of a "sell to cover" strategy to meet tax obligations related to the vesting of restricted stock units.
Following this transaction, Sze retains ownership of 2,736 shares in Cavco Industries. The sale marks the completion of her 10b5-1 trading plan.
In other recent news, Cavco Industries has reported an increase in net revenue by 12.3% to $507.5 million in the second quarter of fiscal year 2025, driven by a 15.7% rise in homes sold. Despite weather-related challenges from Hurricanes Helene and Milton, Cavco's factory-built housing segment contributed $486.3 million to the revenue, while financial services added $21.1 million. However, the company experienced a slight dip in gross margins to 22.9%, affected by lower average selling prices and losses in financial services. Craig-Hallum has expressed a positive outlook on Cavco, raising its price target to $495 from $422 and maintaining a Buy rating on the stock. The firm's analyst emphasized Cavco's potential to gain market share in the manufactured housing sector and expects the company to benefit from operating leverage. Cavco Industries has also indicated an interest in potential mergers and acquisitions to enhance plant capacity and efficiency. These are the recent developments in Cavco Industries.
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