40,986 Shares in Champion Homes, Inc. $SKY Acquired by Oppenheimer Asset Management Inc.

Key Points

• Oppenheimer Asset Management acquired 40,986 shares of Champion Homes, valued at approximately $3.6 million, while several other institutional investors also increased their positions.
• Champion Homes exceeded quarterly expectations with earnings of $0.88 per share versus a $0.87 estimate and revenue of $710.2 million, up 1.3% year over year.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and a $104 average price target; shares recently traded at $94.53, near their 52-week high.

Oppenheimer Asset Management Inc. bought a new position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 40,986 shares of the company's stock, valued at approximately $3,612,000. Oppenheimer Asset Management Inc. owned approximately 0.07% of Champion Homes as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its stake in shares of Champion Homes by 221.3% in the first quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company's stock worth $203,533,000 after acquiring an additional 1,885,046 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Champion Homes by 1,149.3% in the third quarter. Marshall Wace LLP now owns 1,397,642 shares of the company's stock valued at $106,738,000 after acquiring an additional 1,285,768 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in Champion Homes in the fourth quarter valued at $90,282,000. Bank of Montreal Can boosted its holdings in Champion Homes by 14,014.0% in the fourth quarter. Bank of Montreal Can now owns 826,232 shares of the company's stock valued at $69,817,000 after purchasing an additional 820,378 shares during the period. Finally, Bamco Inc. NY acquired a new position in Champion Homes during the 4th quarter worth $61,308,000.

Champion Homes Stock Down 1.9%

Shares of NYSE SKY opened at $94.53 on Friday. The business has a 50-day moving average price of $84.08 and a 200 day moving average price of $81.09. The stock has a market cap of $5.13 billion, a PE ratio of 27.56 and a beta of 1.01. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. Champion Homes, Inc. has a 52-week low of $63.69 and a 52-week high of $99.17.

Champion Homes (NYSE:SKY - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The company had revenue of $710.23 million for the quarter, compared to analyst estimates of $701.98 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. The firm's revenue was up 1.3% compared to the same quarter last year. Equities research analysts forecast that Champion Homes, Inc. will post 3.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SKY shares. Citigroup started coverage on Champion Homes in a report on Friday, June 5th. They set a "buy" rating and a $93.00 price target on the stock. Weiss Ratings raised Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Zelman & Associates raised Champion Homes from a "hold" rating to an "outperform" rating in a research report on Thursday, August 6th. Royal Bank Of Canada upped their target price on shares of Champion Homes from $92.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Finally, Barclays raised their target price on shares of Champion Homes from $102.00 to $109.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.00.

Insider Transactions at Champion Homes

In other news, Director Michael B. Berman sold 1,500 shares of Champion Homes stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.22, for a total value of $139,830.00. Following the transaction, the director directly owned 6,825 shares of the company's stock, valued at $636,226.50. The trade was a 18.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Erin Claire Helgren sold 1,100 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $95.00, for a total transaction of $104,500.00. Following the transaction, the director directly owned 8,196 shares in the company, valued at $778,620. The trade was a 11.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 14,522 shares of company stock worth $1,147,665. Insiders own 0.60% of the company's stock.

Champion Homes Company Profile

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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