Assenagon Asset Management S.A. Has $2.68 Million Stake in Champion Homes, Inc. $SKY

Key Points

• Assenagon Asset Management S.A. increased its stake in Champion Homes, Inc. by 50.7%, owning 0.07% of the company valued at $2.68 million after purchasing additional shares in the second quarter.
• Several institutional investors, including GAMMA Investing LLC and Oppenheimer & Co. Inc., have significantly boosted their positions in Champion Homes during the first quarter, indicating strong institutional interest.
• Champion Homes reported earnings per share of $1.19 for the quarter, surpassing analyst expectations, with a revenue of $701.32 million, reflecting an 11.7% year-over-year increase.

Assenagon Asset Management S.A. raised its position in Champion Homes, Inc. (NYSE:SKY - Free Report) by 50.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 42,748 shares of the company's stock after purchasing an additional 14,382 shares during the period. Assenagon Asset Management S.A. owned 0.07% of Champion Homes worth $2,676,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its stake in Champion Homes by 306.0% in the first quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock valued at $96,000 after purchasing an additional 765 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Champion Homes by 142.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 7,394 shares of the company's stock valued at $701,000 after buying an additional 4,341 shares in the last quarter. Principal Financial Group Inc. increased its position in Champion Homes by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 262,811 shares of the company's stock valued at $24,904,000 after buying an additional 5,887 shares in the last quarter. New York State Teachers Retirement System raised its stake in Champion Homes by 3.4% during the 1st quarter. New York State Teachers Retirement System now owns 12,300 shares of the company's stock worth $1,166,000 after buying an additional 400 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Champion Homes by 4.3% in the first quarter. Bessemer Group Inc. now owns 244,149 shares of the company's stock worth $23,136,000 after acquiring an additional 10,107 shares in the last quarter.

Insiders Place Their Bets

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the business'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 directly owned 44,568 shares in the company, valued at approximately $2,942,825.04. The trade was a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

Champion Homes Trading Down 1.9%

Shares of Champion Homes stock opened at $72.82 on Friday. The company has a market capitalization of $4.12 billion, a P/E ratio of 19.37 and a beta of 1.18. The stock has a fifty day simple moving average of $71.59 and a 200 day simple moving average of $76.38. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02.

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 for the quarter, beating the consensus estimate of $0.88 by $0.31. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.The business had revenue of $701.32 million for the quarter, compared to analysts' expectations of $642.18 million. During the same period last year, the business earned $0.91 EPS. The business's revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Champion Homes declared that its board has authorized a stock repurchase program on Friday, May 30th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

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.

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