Champion Homes, Inc. $SKY Shares Sold by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. reduced its stake in Champion Homes, Inc. by 28.3%, selling 466,141 shares, and now owns 1,180,341 shares worth $111.85 million as of its latest SEC filing.
• Champion Homes' stock price rose 6.5% to $76.09, with a market cap of $4.30 billion and a PE ratio of 20.24.
• The company recently approved a $50 million share buyback plan, indicating that its management believes the stock is undervalued.

Ameriprise Financial Inc. decreased its holdings in Champion Homes, Inc. (NYSE:SKY - Free Report) by 28.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,180,341 shares of the company's stock after selling 466,141 shares during the quarter. Ameriprise Financial Inc. owned 2.06% of Champion Homes worth $111,849,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. LPL Financial LLC raised its position in Champion Homes by 11.6% in the fourth quarter. LPL Financial LLC now owns 3,685 shares of the company's stock valued at $325,000 after purchasing an additional 384 shares during the period. Marshall Wace LLP acquired a new stake in shares of Champion Homes during the fourth quarter worth about $677,000. MetLife Investment Management LLC boosted its stake in shares of Champion Homes by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 32,308 shares of the company's stock valued at $2,846,000 after purchasing an additional 1,802 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in Champion Homes during the 4th quarter worth approximately $1,674,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Champion Homes by 1,252.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,084 shares of the company's stock worth $272,000 after buying an additional 2,856 shares in the last quarter.

Analyst Ratings Changes

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

Insider Activity at Champion Homes

In related news, EVP Joseph A. Kimmell sold 1,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $65.24, for a total value of $65,240.00. Following the transaction, the executive vice president directly owned 43,568 shares of the company's stock, valued at approximately $2,842,376.32. This trade represents a 2.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Champion Homes Trading Up 0.3%

NYSE:SKY traded up $0.21 during mid-day trading on Friday, reaching $75.14. The company's stock had a trading volume of 323,501 shares, compared to its average volume of 648,145. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59. The stock has a market cap of $4.25 billion, a P/E ratio of 19.99 and a beta of 1.13. The company's fifty day simple moving average is $67.26 and its two-hundred day simple moving average is $80.06. Champion Homes, Inc. has a twelve month low of $59.44 and a twelve month high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, topping 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 business had revenue of $701.32 million for the quarter, compared to analyst estimates of $642.18 million. During the same period in the prior year, the firm posted $0.91 EPS. The company's revenue was up 11.7% on a year-over-year basis. On average, equities analysts predict that Champion Homes, Inc. will post 3.63 EPS for the current year.

Champion Homes announced that its Board of Directors has initiated a share buyback program on Friday, May 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

About Champion Homes

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.