Assenagon Asset Management S.A. Has $2.69 Million Position in Champion Homes, Inc. (NYSE:SKY)

Assenagon Asset Management S.A. lowered its stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 38.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,366 shares of the company's stock after selling 17,960 shares during the period. Assenagon Asset Management S.A.'s holdings in Champion Homes were worth $2,688,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Summit Investment Advisors Inc. raised its holdings in Champion Homes by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,613 shares of the company's stock worth $495,000 after acquiring an additional 178 shares during the period. HighTower Advisors LLC raised its holdings in Champion Homes by 3.7% in the 4th quarter. HighTower Advisors LLC now owns 5,019 shares of the company's stock worth $442,000 after acquiring an additional 180 shares during the period. Two Sigma Advisers LP raised its holdings in Champion Homes by 3.6% in the 4th quarter. Two Sigma Advisers LP now owns 5,800 shares of the company's stock worth $511,000 after acquiring an additional 200 shares during the period. Atria Investments Inc raised its holdings in Champion Homes by 5.7% in the 4th quarter. Atria Investments Inc now owns 3,726 shares of the company's stock worth $328,000 after acquiring an additional 202 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Champion Homes by 3.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,745 shares of the company's stock worth $506,000 after acquiring an additional 213 shares during the period.

Champion Homes Trading Up 0.3%

Shares of SKY traded up $0.16 on Wednesday, reaching $60.49. 625,549 shares of the company's stock were exchanged, compared to its average volume of 1,026,422. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $3.47 billion, a P/E ratio of 17.09 and a beta of 1.19. The business has a 50 day moving average price of $79.28 and a two-hundred day moving average price of $90.06. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). Champion Homes had a return on equity of 13.61% and a net margin of 7.99%. The company had revenue of $593.87 million for the quarter, compared to analyst estimates of $595.42 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The company's revenue was up .7% on a year-over-year basis. Research analysts anticipate that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

Champion Homes announced that its Board of Directors has approved 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 purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

SKY has been the topic of several research reports. Royal Bank Of Canada dropped their price objective on shares of Champion Homes from $96.00 to $82.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 28th. Barclays decreased their price target on Champion Homes from $97.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Finally, Zelman & Associates raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $80.60.

Champion Homes 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.