Interval Partners LP Takes $14.85 Million Position in Champion Homes, Inc. $SKY

Key Points

• Interval Partners LP has acquired a new position in Champion Homes, purchasing 156,700 shares valued at approximately $14.85 million, increasing their stake to about 0.27% of the company.
• Champion Homes reported strong quarterly earnings with $1.19 EPS, exceeding analysts' expectations of $0.88, alongside revenues of $701.32 million, a significant increase from the previous year.
• Following recent analyst upgrades, the consensus rating for Champion Homes is currently "Hold", with price targets ranging from $74.00 to $86.00.

Interval Partners LP bought a new position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 156,700 shares of the company's stock, valued at approximately $14,849,000. Interval Partners LP owned 0.27% of Champion Homes as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Champion Homes by 306.0% during the first quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after purchasing an additional 765 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Champion Homes by 142.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 7,394 shares of the company's stock worth $701,000 after acquiring an additional 4,341 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Champion Homes by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 262,811 shares of the company's stock worth $24,904,000 after acquiring an additional 5,887 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Champion Homes by 3.4% in the 1st quarter. New York State Teachers Retirement System now owns 12,300 shares of the company's stock worth $1,166,000 after acquiring an additional 400 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Champion Homes by 4.3% in the 1st quarter. Bessemer Group Inc. now owns 244,149 shares of the company's stock worth $23,136,000 after acquiring an additional 10,107 shares during the period.

Insider Buying and Selling

In other Champion Homes news, EVP Joseph A. Kimmell sold 3,000 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $66.03, for a total transaction of $198,090.00. Following the transaction, the executive vice president owned 44,568 shares of the company's stock, valued at approximately $2,942,825.04. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company's stock.

Champion Homes Price Performance

Champion Homes stock traded down $0.41 during trading hours on Friday, hitting $78.43. 887,848 shares of the company traded hands, compared to its average volume of 712,119. The firm has a market cap of $4.43 billion, a P/E ratio of 20.86 and a beta of 1.18. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The firm's 50-day simple moving average is $68.97 and its two-hundred day simple moving average is $78.48. Champion Homes, Inc. has a 1-year low of $59.44 and a 1-year high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.88 by $0.31. The firm had revenue of $701.32 million for the quarter, compared to analysts' expectations of $642.18 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. Champion Homes's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. As a group, analysts forecast that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Champion Homes declared that its board has authorized a stock buyback plan on Friday, May 30th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to buy up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

SKY has been the topic of a number of analyst reports. Royal Bank Of Canada increased their price objective on shares of Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Barclays increased their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Finally, Zelman & Associates raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Champion Homes has a consensus rating of "Hold" and an average price target of $86.00.

Champion Homes Company Profile

Skyline Champion Corporation produces and sells factory-built housing in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family and hospitality sectors. It builds homes under the Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes brands in the United States; and Moduline and SRI Homes brand names in western Canada.