Arrowstreet Capital Limited Partnership Increases Stock Position in Champion Homes, Inc. $SKY

Key Points

• Arrowstreet Capital increased its Champion Homes stake by 597.1% in the first quarter, purchasing 48,919 additional shares and ending with 57,112 shares valued at approximately $4.25 million. Several other institutional investors also expanded their positions.
• Analysts maintain a generally positive outlook, with Champion Homes receiving a consensus “Moderate Buy” rating and an average price target of $95, compared with shares opening at $80.89.
• Champion Homes exceeded quarterly expectations, reporting $0.68 in adjusted EPS versus a $0.63 estimate and $621.28 million in revenue, up 15.2% year over year.

Arrowstreet Capital Limited Partnership grew its holdings in Champion Homes, Inc. (NYSE:SKY - Free Report) by 597.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,112 shares of the company's stock after purchasing an additional 48,919 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.10% of Champion Homes worth $4,247,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Gibbs Wealth Management lifted its stake in Champion Homes by 67.5% in the 1st quarter. Gibbs Wealth Management now owns 13,498 shares of the company's stock valued at $1,004,000 after buying an additional 5,441 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Champion Homes by 279.2% during the first quarter. Sei Investments Co. now owns 177,222 shares of the company's stock valued at $13,180,000 after acquiring an additional 130,490 shares during the last quarter. Militia Capital Management LLC acquired a new stake in shares of Champion Homes during the first quarter valued at $1,398,000. Meeder Asset Management Inc. increased its position in Champion Homes by 1,559.9% during the 1st quarter. Meeder Asset Management Inc. now owns 20,450 shares of the company's stock worth $1,521,000 after purchasing an additional 19,218 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Champion Homes by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company's stock worth $129,111,000 after purchasing an additional 80,531 shares in the last quarter.

Insider Transactions at Champion Homes

In other news, EVP Joseph A. Kimmell sold 4,000 shares of Champion Homes stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total transaction of $303,640.00. Following the sale, the executive vice president owned 32,118 shares in the company, valued at $2,438,077.38. This trade represents a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup initiated coverage on shares of Champion Homes in a research note on Friday, June 5th. They issued a "buy" rating and a $93.00 target price for the company. Barclays lifted their price target on shares of Champion Homes from $94.00 to $102.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Royal Bank Of Canada cut their price objective on shares of Champion Homes from $101.00 to $92.00 and set an "outperform" rating for the company in a research report on Wednesday, May 27th. Zacks Research raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Finally, UBS Group began coverage on shares of Champion Homes in a research report on Friday, June 5th. They set a "buy" rating and a $93.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $95.00.

Champion Homes Price Performance

Shares of NYSE SKY opened at $80.89 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.48 and a quick ratio of 1.69. Champion Homes, Inc. has a 1-year low of $63.69 and a 1-year high of $99.17. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 22.10 and a beta of 1.01. The business has a 50-day moving average of $80.64 and a 200-day moving average of $81.16.

Champion Homes (NYSE:SKY - Get Free Report) last announced its earnings results on Tuesday, May 26th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. The business had revenue of $621.28 million for the quarter, compared to the consensus estimate of $607.39 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.The company's revenue was up 15.2% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. On average, equities analysts anticipate that Champion Homes, Inc. will post 3.4 EPS for the current fiscal year.

Champion Homes 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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