4D Advisors LLC Invests $2.37 Million in Champion Homes, Inc. $SKY

Key Points

• 4D Advisors LLC has made a new investment of approximately $2.37 million in Champion Homes, Inc. (NYSE:SKY), acquiring 25,000 shares that now account for 1.8% of its portfolio.
• Champion Homes reported a quarterly earnings per share of $1.19, outperforming analysts' expectations of $0.88, alongside revenue growth of 11.7% compared to the previous year.
• The company has initiated a $50 million share buyback plan, signaling confidence from its Board of Directors in the company's stock valuation.

4D Advisors LLC bought a new position in Champion Homes, Inc. (NYSE:SKY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 25,000 shares of the company's stock, valued at approximately $2,369,000. Champion Homes makes up approximately 1.8% of 4D Advisors LLC's investment portfolio, making the stock its 22nd largest position.

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

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of Champion Homes stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $65.24, for a total transaction of $65,240.00. Following the completion of the sale, the executive vice president directly owned 43,568 shares in the company, valued at $2,842,376.32. The trade was a 2.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SKY has been the subject of several recent research reports. Royal Bank Of Canada lifted their target price on shares of Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Zelman & Associates raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Barclays boosted their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Champion Homes currently has an average rating of "Hold" and an average price target of $86.00.

Champion Homes Price Performance

NYSE:SKY traded down $0.41 during mid-day trading on Friday, hitting $78.43. 887,848 shares of the stock traded hands, compared to its average volume of 695,619. The business's 50-day moving average price is $68.97 and its 200 day moving average price is $78.83. The company has a market cap of $4.43 billion, a PE ratio of 20.86 and a beta of 1.18. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

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

Champion Homes announced that its Board of Directors has initiated a stock repurchase plan on Friday, May 30th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

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.