Corient Private Wealth LP Sells 17,351 Shares of Champion Homes, Inc. $SKY

Key Points

• Corient Private Wealth reduced its Champion Homes stake by 67.5% in the second quarter, selling 17,351 shares and retaining 8,362 shares valued at approximately $737,000. Other institutions made new purchases or increased their positions.
• Champion Homes reported quarterly EPS of $0.88, slightly above the $0.87 consensus estimate, while revenue of $710.23 million exceeded forecasts and rose 1.3% year over year.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $104, compared with a recent share price of $86.90.

Corient Private Wealth LP trimmed its holdings in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 67.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,362 shares of the company's stock after selling 17,351 shares during the period. Corient Private Wealth LP's holdings in Champion Homes were worth $737,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Champion Homes in the 2nd quarter worth $308,000. Nykredit A S acquired a new stake in shares of Champion Homes during the second quarter valued at about $196,000. B. Metzler seel. Sohn & Co. AG increased its position in shares of Champion Homes by 6.8% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 62,027 shares of the company's stock worth $5,466,000 after acquiring an additional 3,942 shares during the last quarter. Beaconlight Capital LLC purchased a new stake in shares of Champion Homes during the second quarter worth about $3,001,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Champion Homes during the second quarter worth about $270,000.

Champion Homes Price Performance

Shares of NYSE:SKY opened at $86.90 on Tuesday. The company has a market cap of $4.72 billion, a PE ratio of 25.34 and a beta of 1.01. The firm has a 50-day simple moving average of $87.11 and a 200 day simple moving average of $80.81. Champion Homes, Inc. has a fifty-two week low of $63.69 and a fifty-two week high of $99.17. 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 (NYSE:SKY - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The business had revenue of $710.23 million during the quarter, compared to analyst estimates of $701.98 million. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The company's quarterly 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.

Insider Buying and Selling

In related news, Director Michael Berman sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $93.22, for a total transaction of $139,830.00. Following the transaction, the director owned 6,825 shares in the company, valued at $636,226.50. This trade represents a 18.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erin Helgren sold 1,100 shares of the company'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 completion of the sale, the director owned 8,196 shares of the company's stock, valued at $778,620. This trade represents a 11.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research raised Champion Homes from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Citigroup began coverage on Champion Homes in a research note on Friday, June 5th. They set a "buy" rating and a $93.00 target price for the company. Zelman & Associates raised shares of Champion Homes from a "hold" rating to an "outperform" rating in a research report on Thursday, August 6th. Barclays raised 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. Finally, UBS Group upped their price target on shares of Champion Homes from $93.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Champion Homes presently has an average rating of "Moderate Buy" and an average target price of $104.00.

Champion Homes Company Profile

Champion Homes, Inc, formerly known as Skyline Champion Corporation, designs and manufactures factory-built housing for residential, commercial and specialized applications. Its portfolio includes manufactured homes, modular homes, park model homes, accessory dwelling units and other prefabricated structures, offered through a range of brands and configurations.

The company sells its products through independent and company-owned retailers, builders and developers, serving customers across the United States and parts of Canada.

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