Ameriprise Financial Inc. Has $111.85 Million Holdings in Champion Homes, Inc. $SKY

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. trimmed its position in Champion Homes, Inc. (NYSE:SKY - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,180,341 shares of the company's stock after selling 466,141 shares during the quarter. Ameriprise Financial Inc. owned approximately 2.06% of Champion Homes worth $111,849,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SKY. 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 valued at $96,000 after acquiring an additional 765 shares during the period. Global Trust Asset Management LLC purchased a new position in Champion Homes during the 1st quarter worth approximately $128,000. PharVision Advisers LLC acquired a new stake in Champion Homes during the 4th quarter valued at $216,000. Sowell Financial Services LLC purchased a new stake in shares of Champion Homes in the first quarter valued at $233,000. Finally, Shay Capital LLC purchased a new stake in shares of Champion Homes in the fourth quarter valued at $220,000.

Analyst Upgrades and Downgrades

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

Insider Transactions at Champion Homes

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the company'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 in the company, valued at $2,942,825.04. This represents a 6.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Champion Homes Stock Up 0.7%

Shares of NYSE SKY traded up $0.56 during trading hours on Friday, hitting $75.49. The stock had a trading volume of 635,903 shares, compared to its average volume of 789,935. The firm's 50-day moving average price is $67.56 and its two-hundred day moving average price is $79.68. Champion Homes, Inc. has a 52 week low of $59.44 and a 52 week high of $116.49. The company has a market capitalization of $4.27 billion, a P/E ratio of 20.08 and a beta of 1.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.31. The firm had revenue of $701.32 million during 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 revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Analysts anticipate 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 share repurchase program on Friday, May 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is 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.