Champion Homes, Inc. $SKY Stake Lessened by UBS Group AG

Key Points

• UBS Group AG reduced its stake in Champion Homes by 29.2% in the fourth quarter, selling 133,752 shares and leaving it with 324,084 shares valued at about $27.4 million.
• Several other institutional investors made notable moves in SKY, including large increases from Millennium Management and Invesco, while Royal Bank of Canada and others also added to positions.
• Analyst sentiment is mixed but still leans positive: Barclays trimmed its price target to $106, and the stock currently carries a Moderate Buy consensus with an average target of $103.50.

UBS Group AG cut its stake in Champion Homes, Inc. (NYSE:SKY - Free Report) by 29.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,084 shares of the company's stock after selling 133,752 shares during the period. UBS Group AG owned approximately 0.58% of Champion Homes worth $27,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SKY. Royal Bank of Canada boosted its holdings in shares of Champion Homes by 66.1% in the first quarter. Royal Bank of Canada now owns 10,804 shares of the company's stock valued at $1,024,000 after acquiring an additional 4,301 shares in the last quarter. AQR Capital Management LLC bought a new stake in Champion Homes during the first quarter worth approximately $294,000. Millennium Management LLC boosted its holdings in Champion Homes by 712.0% during the first quarter. Millennium Management LLC now owns 70,029 shares of the company's stock worth $6,636,000 after buying an additional 61,405 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Champion Homes during the second quarter worth approximately $408,000. Finally, Invesco Ltd. boosted its holdings in Champion Homes by 150.6% during the second quarter. Invesco Ltd. now owns 655,107 shares of the company's stock worth $41,016,000 after buying an additional 393,686 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently weighed in on SKY shares. Barclays reduced their target price on shares of Champion Homes from $111.00 to $106.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. Weiss Ratings restated a "hold (c)" rating on shares of Champion Homes in a report on Monday, April 20th. Finally, Zelman & Associates cut shares of Champion Homes from an "outperform" rating to a "hold" rating in a report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $103.50.

Insider Activity at Champion Homes

In related news, EVP Joseph A. Kimmell sold 2,880 shares of the firm's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $82.25, for a total value of $236,880.00. Following the transaction, the executive vice president directly owned 51,297 shares in the company, valued at approximately $4,219,178.25. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by company insiders.

Champion Homes Stock Performance

Shares of SKY opened at $72.89 on Friday. The company's fifty day moving average is $79.03 and its 200-day moving average is $82.89. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $99.17. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 19.38 and a beta of 1.07. The company has a quick ratio of 1.89, a current ratio of 2.71 and a debt-to-equity ratio of 0.01.

Champion Homes Company Profile

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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