Champion Homes, Inc. $SKY Position Increased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Champion Homes position by 177.1% in the third quarter, bringing its holdings to 57,793 shares valued at approximately $4.95 million. Several other major institutional investors also initiated or expanded positions.
• Champion Homes reported quarterly earnings of $0.88 per share, slightly exceeding estimates, while revenue reached $710.23 million, up 1.3% year over year. Analysts expect full-year earnings of $3.40 per share.
• Wall Street’s outlook remains favorable, with the stock carrying a “Moderate Buy” consensus rating and a $102.75 average price target. Shares recently opened at $76.25, while two directors disclosed sales of company stock.

Assenagon Asset Management S.A. increased its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 177.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,793 shares of the company's stock after purchasing an additional 36,934 shares during the period. Assenagon Asset Management S.A. owned about 0.11% of Champion Homes worth $4,953,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SKY. BlackRock Inc. acquired a new stake in Champion Homes during the second quarter worth $794,354,000. Wasatch Advisors LP raised its stake in shares of Champion Homes by 221.3% in the 1st quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company's stock valued at $203,533,000 after buying an additional 1,885,046 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Champion Homes during the 2nd quarter worth about $52,406,000. Neumeier Poma Investment Counsel LLC bought a new position in shares of Champion Homes during the 2nd quarter worth about $51,446,747. Finally, William Blair Investment Management LLC bought a new position in shares of Champion Homes during the 2nd quarter worth about $35,030,000.

Insider Buying and Selling at Champion Homes

In other news, Director Erin Helgren sold 1,100 shares of the 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 owned 8,196 shares in the company, valued at approximately $778,620. This represents a 11.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Berman sold 1,500 shares of the firm's stock in a transaction on Monday, August 10th. The shares were 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 of the company's stock, valued at approximately $636,226.50. This trade represents a 18.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.60% of the company's stock.

Champion Homes Trading Up 1.5%

Shares of Champion Homes stock opened at $76.25 on Wednesday. The stock has a market capitalization of $4.14 billion, a P/E ratio of 22.23 and a beta of 1.02. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $85.97 and a 200 day simple moving average of $81.49. Champion Homes, Inc. has a 12-month low of $63.87 and a 12-month high of $99.17.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The company's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 earnings per share. Research analysts expect that Champion Homes, Inc. will post 3.40 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SKY has been the topic of several recent research reports. Zacks Research upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Barclays increased their price target on shares of Champion Homes from $102.00 to $109.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. UBS Group raised their price target on shares of Champion Homes from $93.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Oppenheimer started coverage on Champion Homes in a report on Wednesday, September 30th. They set a "market perform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Champion Homes presently has an average rating of "Moderate Buy" and a consensus price target of $102.75.

Champion Homes Company Profile

Champion Homes, Inc NYSE: SKY is a manufacturer of factory-built housing in the United States and Canada. The company designs and produces manufactured homes, modular homes and other residential structures in controlled factory environments, offering housing solutions for individual homeowners, developers, retailers and communities.

Its products include single-section and multi-section manufactured homes, modular homes, accessory dwelling units and park model recreational vehicles. Champion Homes markets its products through independent retailers, company-owned retail operations and other distribution channels, and also provides related construction and installation services in selected markets.

The company traces its heritage to the Skyline and Champion businesses, which combined in 2018 to form Skyline Champion Corporation.

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