Beaconlight Capital LLC Invests $3 Million in Champion Homes, Inc. $SKY

Beaconlight Capital LLC bought a new position in Champion Homes, Inc. (NYSE:SKY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,056 shares of the company's stock, valued at approximately $3,001,000. Champion Homes makes up 1.1% of Beaconlight Capital LLC's holdings, making the stock its 24th largest position. Beaconlight Capital LLC owned 0.06% of Champion Homes at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in shares of Champion Homes in the fourth quarter valued at $26,000. UMB Bank n.a. lifted its position in Champion Homes by 78.9% during the fourth quarter. UMB Bank n.a. now owns 313 shares of the company's stock valued at $26,000 after purchasing an additional 138 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Champion Homes during the fourth quarter valued at $26,000. Parallel Advisors LLC grew its stake in shares of Champion Homes by 668.6% in the 1st quarter. Parallel Advisors LLC now owns 392 shares of the company's stock worth $29,000 after buying an additional 341 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Champion Homes in the 3rd quarter worth $35,000.

Analysts Set New Price Targets

SKY has been the topic of several analyst reports. Royal Bank Of Canada boosted their price objective on Champion Homes from $92.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Zacks Research raised Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. UBS Group lifted their target price on Champion Homes from $93.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Citigroup assumed coverage on Champion Homes in a research report on Friday, June 5th. They set a "buy" rating and a $93.00 target price on the stock. Finally, Weiss Ratings upgraded Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $104.00.

Champion Homes Stock Up 0.0%

Shares of NYSE SKY opened at $90.23 on Monday. Champion Homes, Inc. has a 1 year low of $63.69 and a 1 year high of $99.17. The firm has a 50-day simple moving average of $86.42 and a two-hundred day simple moving average of $81.65. The company has a market cap of $4.90 billion, a P/E ratio of 26.31 and a beta of 1.01. 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 (NYSE:SKY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm had revenue of $710.23 million for the quarter, compared to the consensus estimate of $701.98 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The company's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. Research analysts anticipate that Champion Homes, Inc. will post 3.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael B. Berman sold 1,500 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the sale, the director 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Erin Claire Helgren sold 1,100 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $104,500.00. Following the completion of the transaction, the director directly owned 8,196 shares in the company, valued at approximately $778,620. This trade represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,522 shares of company stock worth $1,147,665 in the last three months. Corporate insiders own 0.60% of the company's stock.

About Champion Homes

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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