Assenagon Asset Management S.A. Sells 74,213 Shares of Champion Homes, Inc. $SKY

Key Points

• Assenagon Asset Management cut its Champion Homes stake by 78.1% in the second quarter, selling 74,213 shares and retaining 20,859 shares valued at approximately $1.84 million.
• Champion Homes slightly exceeded quarterly expectations, reporting $0.88 in EPS versus the $0.87 consensus and revenue of $710.23 million, up 1.3% year over year.
• Analyst sentiment remains favorable: the stock has a “Moderate Buy” consensus rating with a $104 average price target, while UBS raised its target to $115. Shares opened at $94.53, near their 52-week high of $99.17.

Assenagon Asset Management S.A. trimmed its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 78.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,859 shares of the company's stock after selling 74,213 shares during the period. Assenagon Asset Management S.A.'s holdings in Champion Homes were worth $1,838,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SKY. Wellington Management Group LLP grew its holdings in Champion Homes by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company's stock worth $366,619,000 after acquiring an additional 333,666 shares during the last quarter. Wasatch Advisors LP raised its position in Champion Homes by 221.3% in the 1st quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company's stock worth $203,533,000 after purchasing an additional 1,885,046 shares during the last quarter. State Street Corp lifted its holdings in Champion Homes by 4.0% during the 2nd quarter. State Street Corp now owns 2,579,091 shares of the company's stock worth $161,477,000 after buying an additional 98,659 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Champion Homes by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company's stock valued at $129,111,000 after buying an additional 80,531 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Champion Homes by 7.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,411,351 shares of the company's stock valued at $107,785,000 after buying an additional 91,989 shares during the last quarter.

Insider Activity

In related news, Director Michael B. Berman sold 1,500 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $93.22, for a total transaction of $139,830.00. Following the transaction, the director directly owned 6,825 shares in the company, valued at approximately $636,226.50. The trade was a 18.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erin Claire Helgren sold 1,100 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $95.00, for a total transaction of $104,500.00. Following the sale, the director directly owned 8,196 shares in the company, valued at $778,620. This trade represents a 11.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 14,522 shares of company stock valued at $1,147,665. 0.60% of the stock is owned by insiders.

Champion Homes Price Performance

Shares of NYSE SKY opened at $94.53 on Friday. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 27.56 and a beta of 1.01. The business has a 50-day moving average of $84.08 and a 200-day moving average of $81.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.97. Champion Homes, Inc. has a fifty-two week low of $63.69 and a fifty-two week high of $99.17.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. The firm had revenue of $710.23 million during the quarter, compared to analysts' expectations of $701.98 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The business's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 earnings per share. As a group, sell-side analysts predict that Champion Homes, Inc. will post 3.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SKY shares. UBS Group upped their price target on Champion Homes from $93.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Zacks Research upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Royal Bank Of Canada increased their price objective on shares of Champion Homes from $92.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Finally, 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 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $104.00.

Champion Homes Company 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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