Champion Homes, Inc. (NYSE:SKY) Short Interest Down 40.1% in July

Key Points

• Short interest fell 40.1% to 2.74 million shares as of July 31, representing 5.1% of Champion Homes’ shares and 4.8 days of average trading volume.
• Champion Homes exceeded quarterly expectations, reporting $0.88 in EPS versus the $0.87 consensus and $710.23 million in revenue, up 1.3% year over year.
• Analyst sentiment is positive: the stock carries a “Moderate Buy” consensus rating with a $104 average price target, while recent insider transactions reflected net selling.

Champion Homes, Inc. (NYSE:SKY - Get Free Report) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 2,735,465 shares, a decline of 40.1% from the July 15th total of 4,566,369 shares. Based on an average trading volume of 571,530 shares, the short-interest ratio is currently 4.8 days. Currently, 5.1% of the company's shares are sold short.

Insider Activity

In related news, EVP Joseph A. Kimmell sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $75.91, for a total value of $303,640.00. Following the completion of the sale, the executive vice president owned 32,118 shares in the company, valued at approximately $2,438,077.38. The trade was a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erin Claire Helgren sold 1,100 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $104,500.00. Following the completion of the transaction, the director directly owned 8,196 shares in the company, valued at approximately $778,620. This trade represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 14,522 shares of company stock valued at $1,147,665. Corporate insiders own 0.60% of the company's stock.

Institutional Trading of Champion Homes

Hedge funds have recently modified their holdings of the company. UMB Bank n.a. grew its position in Champion Homes by 78.9% during the 4th quarter. UMB Bank n.a. now owns 313 shares of the company's stock worth $26,000 after purchasing an additional 138 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Champion Homes by 16.8% in the first quarter. Assetmark Inc. now owns 1,000 shares of the company's stock worth $74,000 after buying an additional 144 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Champion Homes by 4.7% in the third quarter. Mackenzie Financial Corp now owns 3,612 shares of the company's stock worth $276,000 after buying an additional 161 shares during the last quarter. Mirador Capital Partners LP lifted its stake in shares of Champion Homes by 0.3% during the second quarter. Mirador Capital Partners LP now owns 51,684 shares of the company's stock worth $4,554,000 after buying an additional 178 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Champion Homes by 0.4% during the first quarter. Bessemer Group Inc. now owns 47,664 shares of the company's stock worth $3,544,000 after buying an additional 184 shares during the period.

Champion Homes Trading Down 0.0%

Shares of NYSE:SKY opened at $94.53 on Monday. The company has a market capitalization of $5.13 billion, a PE ratio of 27.56 and a beta of 1.01. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01. Champion Homes has a 12-month low of $63.69 and a 12-month high of $99.17. The business's fifty day simple moving average is $84.08 and its 200-day simple moving average is $81.02.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.01. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The firm had revenue of $710.23 million during the quarter, compared to analysts' expectations of $701.98 million. During the same period in the prior year, the business posted $1.19 EPS. The firm's quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts predict that Champion Homes will post 3.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SKY has been the subject of several research reports. Zelman & Associates upgraded Champion Homes from a "hold" rating to an "outperform" rating in a report on Thursday, August 6th. Citigroup began coverage on Champion Homes in a report on Friday, June 5th. They issued a "buy" rating and a $93.00 price objective for the company. Zacks Research upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. UBS Group boosted their price target on shares of Champion Homes from $93.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada upped their price target on shares of Champion Homes from $92.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $104.00.

About Champion Homes

Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.

The company's product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.

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