Assenagon Asset Management S.A. Trims Stock Holdings in Champion Homes, Inc. (NYSE:SKY)

Assenagon Asset Management S.A. trimmed its stake in Champion Homes, Inc. (NYSE:SKY - Free Report) by 38.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Champion Homes by 17.3% in the fourth quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock valued at $523,578,000 after acquiring an additional 876,712 shares during the last quarter. Capital World Investors increased its position in shares of Champion Homes by 31.5% during the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company's stock valued at $232,484,000 after purchasing an additional 632,718 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Champion Homes by 17.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock valued at $145,055,000 after purchasing an additional 241,326 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Champion Homes by 2.9% during the 4th quarter. American Century Companies Inc. now owns 1,411,769 shares of the company's stock valued at $124,377,000 after buying an additional 39,262 shares in the last quarter. Finally, Capital Research Global Investors bought a new stake in Champion Homes in the 4th quarter worth approximately $98,978,000.

Champion Homes Trading Up 0.1%

Shares of NYSE:SKY traded up $0.04 during trading on Friday, reaching $60.58. 776,789 shares of the company traded hands, compared to its average volume of 619,359. The company has a current ratio of 2.41, a quick ratio of 1.61 and a debt-to-equity ratio of 0.02. Champion Homes, Inc. has a 52-week low of $59.44 and a 52-week high of $116.49. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of 17.71 and a beta of 1.19. The business's fifty day moving average is $78.31 and its 200-day moving average is $89.55.

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

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

Analysts Set New Price Targets

A number of brokerages have commented on SKY. Royal Bank Of Canada reduced their price target on shares of Champion Homes from $96.00 to $82.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 28th. Barclays cut their price objective on shares of Champion Homes from $97.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Finally, Zelman & Associates upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Champion Homes currently has an average rating of "Hold" and an average price target of $80.60.

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.