Castleark Management LLC Buys New Shares in Champion Homes, Inc. $SKY

Key Points

• Castleark Management initiated a position in Champion Homes by purchasing 45,670 shares worth approximately $4.0 million, representing about 0.08% of the company.
• Champion Homes reported quarterly EPS of $0.88, slightly exceeding estimates, while revenue reached $710.2 million and increased 1.3% year over year.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $104, although insiders sold 14,522 shares worth roughly $1.15 million over the past three months.

Castleark Management LLC bought a new position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 45,670 shares of the company's stock, valued at approximately $4,024,000. Castleark Management LLC owned about 0.08% of Champion Homes at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SKY. Los Angeles Capital Management LLC acquired a new position in shares of Champion Homes during the 4th quarter worth about $26,000. UMB Bank n.a. lifted its stake in Champion Homes by 78.9% in the 4th 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 acquired a new stake in Champion Homes in the 4th quarter valued at about $26,000. Parallel Advisors LLC grew its holdings in Champion Homes by 668.6% during the first quarter. Parallel Advisors LLC now owns 392 shares of the company's stock worth $29,000 after purchasing an additional 341 shares during the period. Finally, Advisory Services Network LLC bought a new position in Champion Homes during the third quarter worth about $35,000.

Insider Transactions at Champion Homes

In related news, Director Erin Claire Helgren sold 1,100 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $95.00, for a total transaction of $104,500.00. Following the completion of the sale, the director owned 8,196 shares of the company's stock, valued at $778,620. This represents a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael B. Berman sold 1,500 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.22, for a total transaction of $139,830.00. Following the sale, the director owned 6,825 shares in the company, valued at $636,226.50. The trade was a 18.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 14,522 shares of company stock valued at $1,147,665. 0.60% of the stock is owned by corporate insiders.

Champion Homes Stock Up 0.2%

NYSE SKY opened at $91.75 on Wednesday. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 26.75 and a beta of 1.01. The company has a 50 day moving average of $85.94 and a 200-day moving average of $81.52. Champion Homes, Inc. has a 1-year low of $63.69 and a 1-year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $0.01. The business 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 firm's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 earnings per share. On average, equities research analysts expect that Champion Homes, Inc. will post 3.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on SKY shares. Citigroup assumed coverage on Champion Homes in a research note on Friday, June 5th. They issued a "buy" rating and a $93.00 price objective on the stock. Zelman & Associates raised Champion Homes from a "hold" rating to an "outperform" rating in a report on Thursday, August 6th. Zacks Research upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Weiss Ratings raised Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada lifted their price objective on shares of Champion Homes from $92.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $104.00.

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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