Bessemer Group Inc. Raises Position in Champion Homes, Inc. (NYSE:SKY)

Bessemer Group Inc. increased its holdings in Champion Homes, Inc. (NYSE:SKY - Free Report) by 4.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 244,149 shares of the company's stock after buying an additional 10,107 shares during the period. Bessemer Group Inc. owned 0.43% of Champion Homes worth $23,136,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new stake in shares of Champion Homes in the fourth quarter worth $36,000. Sterling Capital Management LLC increased its stake in Champion Homes by 645.5% in the fourth quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock valued at $81,000 after acquiring an additional 794 shares during the last quarter. 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 acquiring an additional 765 shares during the last quarter. Headlands Technologies LLC bought a new position in Champion Homes in the fourth quarter valued at $108,000. Finally, Global Trust Asset Management LLC bought a new position in Champion Homes in the first quarter valued at $128,000.

Champion Homes Stock Performance

Champion Homes stock opened at $62.31 on Friday. 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 firm has a 50-day moving average of $76.37 and a 200-day moving average of $88.07. The firm has a market cap of $3.57 billion, a P/E ratio of 18.22 and a beta of 1.19. Champion Homes, Inc. has a 1-year low of $59.44 and a 1-year high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last posted its earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). The firm had revenue of $593.87 million for the quarter, compared to analysts' expectations of $595.42 million. Champion Homes had a return on equity of 13.61% and a net margin of 7.99%. The business's revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. Sell-side analysts expect 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.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SKY. Royal Bank Of Canada reduced their target price on Champion Homes from $96.00 to $82.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 28th. Zelman & Associates raised Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Barclays reduced their target price on Champion Homes from $97.00 to $72.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently 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.

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