Citigroup Inc. Has $11.91 Million Stake in Champion Homes, Inc. $SKY

Key Points

• Citigroup Inc. increased its stake in Champion Homes by 15.5%, acquiring an additional 16,876 shares, bringing its total ownership to 125,657 shares valued at approximately $11.91 million.
• Recent analyst ratings saw Champion Homes upgraded from a "strong sell" to a "hold" by Zelman & Associates, while Royal Bank of Canada raised the target price from $82 to $85.
• The company reported an earnings beat in its last quarter with an EPS of $1.19, exceeding analyst estimates by $0.31, and revenue up 11.7% year-over-year.

Citigroup Inc. lifted its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 15.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 125,657 shares of the company's stock after acquiring an additional 16,876 shares during the period. Citigroup Inc. owned approximately 0.22% of Champion Homes worth $11,907,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Champion Homes by 5.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,336 shares of the company's stock worth $316,000 after acquiring an additional 172 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Champion Homes by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,613 shares of the company's stock worth $495,000 after acquiring an additional 178 shares during the period. Xponance Inc. lifted its holdings in shares of Champion Homes by 5.0% during the 1st quarter. Xponance Inc. now owns 4,048 shares of the company's stock worth $384,000 after acquiring an additional 193 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Champion Homes by 3.6% during the 4th quarter. Two Sigma Advisers LP now owns 5,800 shares of the company's stock worth $511,000 after acquiring an additional 200 shares during the period. Finally, Portside Wealth Group LLC lifted its holdings in shares of Champion Homes by 7.4% during the 1st quarter. Portside Wealth Group LLC now owns 3,567 shares of the company's stock worth $314,000 after acquiring an additional 246 shares during the period.

Champion Homes Price Performance

SKY traded up $1.4550 during midday trading on Tuesday, hitting $75.1250. The company had a trading volume of 178,051 shares, compared to its average volume of 644,337. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39. The company has a market capitalization of $4.25 billion, a PE ratio of 19.98 and a beta of 1.13. Champion Homes, Inc. has a twelve month low of $59.44 and a twelve month high of $116.49. The firm's 50-day simple moving average is $65.43 and its 200-day simple moving average is $81.26.

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

Champion Homes announced that its board has authorized a stock repurchase plan on Friday, May 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SKY. Barclays raised their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a 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 lifted their price target on shares of Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $86.00.

Insiders Place Their Bets

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $65.24, for a total value of $65,240.00. Following the completion of the sale, the executive vice president owned 43,568 shares in the company, valued at approximately $2,842,376.32. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.

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.