Champion Homes, Inc. $SKY Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors reduced its stake in Champion Homes by 4.9%, now owning 183,200 shares valued at approximately $17.36 million.
• Several institutional investors increased their positions in Champion Homes, with GAMMA Investing LLC raising its stake by 306% and Oppenheimer & Co. Inc. by 142.2% in the first quarter.
• Champion Homes reported earnings of $1.19 per share, exceeding expectations, and announced a $50 million stock buyback program indicating management confidence in the stock’s value.

Gamco Investors INC. ET AL lowered its stake in Champion Homes, Inc. (NYSE:SKY - Free Report) by 4.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 183,200 shares of the company's stock after selling 9,500 shares during the quarter. Gamco Investors INC. ET AL owned about 0.32% of Champion Homes worth $17,360,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keeley Teton Advisors LLC increased its position in shares of Champion Homes by 36.4% during the first quarter. Keeley Teton Advisors LLC now owns 18,931 shares of the company's stock worth $1,794,000 after acquiring an additional 5,050 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in Champion Homes by 5.0% in the first quarter. Rafferty Asset Management LLC now owns 37,504 shares of the company's stock valued at $3,554,000 after purchasing an additional 1,793 shares during the last quarter. AlphaQuest LLC grew its stake in Champion Homes by 1,231.3% during the 1st quarter. AlphaQuest LLC now owns 852 shares of the company's stock valued at $81,000 after purchasing an additional 788 shares in the last quarter. CW Advisors LLC increased its holdings in Champion Homes by 0.8% during the 1st quarter. CW Advisors LLC now owns 98,791 shares of the company's stock worth $9,361,000 after purchasing an additional 792 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Champion Homes by 12.1% during the 1st quarter. Northern Trust Corp now owns 641,115 shares of the company's stock worth $60,752,000 after purchasing an additional 69,200 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Champion Homes Stock Performance

SKY traded up $0.56 on Friday, hitting $75.49. 635,903 shares of the company's stock were exchanged, compared to its average volume of 789,935. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average of $67.56 and a two-hundred day moving average of $79.85. Champion Homes, Inc. has a twelve month low of $59.44 and a twelve month high of $116.49. The firm has a market cap of $4.27 billion, a PE ratio of 20.08 and a beta of 1.13.

Champion Homes (NYSE:SKY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.31. The company had revenue of $701.32 million during the quarter, compared to the consensus estimate of $642.18 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.Champion Homes's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, research analysts anticipate that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Champion Homes declared that its Board of Directors has initiated a stock repurchase plan on Friday, May 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other Champion Homes news, EVP Joseph A. Kimmell sold 3,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $66.03, for a total value of $198,090.00. Following the sale, the executive vice president directly owned 44,568 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by insiders.

About Champion Homes

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.