Champion Homes, Inc. $SKY Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management cut its Champion Homes stake by 15.1%, selling 572,917 shares and retaining 3.21 million shares worth about $283.2 million, or 5.92% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $104; RBC and Barclays recently raised their targets to $99 and $109, respectively.
• Champion Homes reported quarterly EPS of $0.88, slightly ahead of expectations, while revenue reached $710.2 million and rose 1.3% year over year. Shares opened at $90.23, near their 52-week high of $99.17.

Wellington Management Group LLP reduced its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 15.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,214,115 shares of the company's stock after selling 572,917 shares during the quarter. Wellington Management Group LLP owned 5.92% of Champion Homes worth $283,228,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SKY. Comerica Bank increased its position in shares of Champion Homes by 119.9% in the 4th quarter. Comerica Bank now owns 35,543 shares of the company's stock worth $3,003,000 after purchasing an additional 19,377 shares during the last quarter. Militia Capital Management LLC acquired a new stake in shares of Champion Homes in the 1st quarter valued at about $1,398,000. Horizon Investments LLC bought a new position in shares of Champion Homes during the fourth quarter worth about $1,439,000. Union Square Park Capital Management LLC bought a new position in shares of Champion Homes during the first quarter worth about $1,116,000. Finally, BlackRock Inc. bought a new position in shares of Champion Homes during the second quarter worth about $794,354,000.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Zelman & Associates raised Champion Homes from a "hold" rating to an "outperform" rating in a report on Thursday, August 6th. Zacks Research raised Champion Homes from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Citigroup started coverage on Champion Homes in a research report on Friday, June 5th. They issued a "buy" rating and a $93.00 target price for the company. Royal Bank Of Canada boosted their price target on Champion Homes from $92.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Finally, Barclays upped their price target on Champion Homes from $102.00 to $109.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $104.00.

Insider Transactions at Champion Homes

In related news, Director Erin Claire Helgren sold 1,100 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $104,500.00. Following the sale, the director owned 8,196 shares of the company's stock, valued at approximately $778,620. This trade represents a 11.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph A. Kimmell sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total value of $303,640.00. Following the transaction, the executive vice president owned 32,118 shares of the company's stock, valued at $2,438,077.38. This represents a 11.07% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 14,522 shares of company stock worth $1,147,665. 0.60% of the stock is currently owned by company insiders.

Champion Homes Price Performance

Shares of NYSE:SKY opened at $90.23 on Monday. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. Champion Homes, Inc. has a fifty-two week low of $63.69 and a fifty-two week high of $99.17. The firm has a 50-day simple moving average of $86.42 and a 200 day simple moving average of $81.65. The company has a market cap of $4.90 billion, a PE ratio of 26.31 and a beta of 1.01.

Champion Homes (NYSE:SKY - Get Free Report) last issued its 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. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The firm had revenue of $710.23 million for the quarter, compared to analysts' expectations of $701.98 million. During the same quarter last year, the company posted $1.19 earnings per share. Champion Homes's revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Champion Homes, Inc. will post 3.4 EPS for the current year.

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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