Vanguard Group Inc. Sells 89,392 Shares of Champion Homes, Inc. (NYSE:SKY)

Key Points

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Vanguard Group Inc. cut its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,853,600 shares of the company's stock after selling 89,392 shares during the quarter. Vanguard Group Inc. owned 10.22% of Champion Homes worth $554,687,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of SKY. Sterling Capital Management LLC boosted its position in Champion Homes by 645.5% during the fourth quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock valued at $81,000 after purchasing an additional 794 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Champion Homes by 306.0% during the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after purchasing an additional 765 shares during the period. Global Trust Asset Management LLC bought a new position in Champion Homes during the first quarter valued at about $128,000. PharVision Advisers LLC bought a new position in Champion Homes during the fourth quarter valued at about $216,000. Finally, Shay Capital LLC bought a new position in Champion Homes during the fourth quarter valued at about $220,000.

Analyst Ratings Changes

Several research firms have recently weighed in on SKY. Barclays upped their price objective on Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Royal Bank Of Canada upped their price objective on Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Zelman & Associates raised Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $86.00.

Champion Homes Stock Performance

NYSE:SKY traded down $0.19 during mid-day trading on Friday, hitting $73.31. The stock had a trading volume of 974,496 shares, compared to its average volume of 688,303. Champion Homes, Inc. has a twelve month low of $59.44 and a twelve month high of $116.49. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 19.50 and a beta of 1.13. The company's 50 day simple moving average is $65.26 and its 200 day simple moving average is $81.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39.

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 (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.31. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The firm had revenue of $701.32 million during the quarter, compared to the consensus estimate of $642.18 million. During the same period last year, the business posted $0.91 earnings per share. The business's revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

Champion Homes declared that its Board of Directors has approved a share repurchase program on Friday, May 30th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to reacquire 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.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $66.03, for a total value of $198,090.00. Following the sale, the executive vice president owned 44,568 shares in the company, valued at $2,942,825.04. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is owned by company insiders.

Champion Homes 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.