Goodman Financial Corp Invests $6.76 Million in Champion Homes, Inc. $SKY

Key Points

• Goodman Financial Corp initiated a new position in Champion Homes during the first quarter, buying 90,911 shares worth about $6.76 million, according to its latest 13F filing.
• Champion Homes also saw continued institutional interest from other major investors, while EVP Joseph A. Kimmell sold 4,000 shares in June, trimming his ownership by about 11%.
• The company posted better-than-expected quarterly results with EPS of $0.68 versus $0.63 expected and revenue of $621.28 million, and analysts currently rate the stock a Moderate Buy with an average target price of $95.

Goodman Financial Corp bought a new stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 90,911 shares of the company's stock, valued at approximately $6,761,000. Goodman Financial Corp owned about 0.16% of Champion Homes as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SKY. Wellington Management Group LLP boosted its stake in Champion Homes by 7.5% during the third quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company's stock worth $366,619,000 after buying an additional 333,666 shares during the period. Wasatch Advisors LP raised its stake in shares of Champion Homes by 221.3% in the first quarter. Wasatch Advisors LP now owns 2,736,767 shares of the company's stock valued at $203,533,000 after acquiring an additional 1,885,046 shares during the period. State Street Corp raised its stake in shares of Champion Homes by 4.0% in the second quarter. State Street Corp now owns 2,579,091 shares of the company's stock valued at $161,477,000 after acquiring an additional 98,659 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Champion Homes by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,655,633 shares of the company's stock valued at $139,904,000 after acquiring an additional 125,114 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Champion Homes by 7.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,411,351 shares of the company's stock worth $107,785,000 after acquiring an additional 91,989 shares during the last quarter.

Insider Activity

In related news, EVP Joseph A. Kimmell sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings downgraded shares of Champion Homes from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 27th. Royal Bank Of Canada decreased their price objective on shares of Champion Homes from $101.00 to $92.00 and set an "outperform" rating for the company in a research note on Wednesday, May 27th. Zacks Research lowered Champion Homes from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 27th. Barclays upped their target price on Champion Homes from $94.00 to $102.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Citigroup initiated coverage on Champion Homes in a report on Friday, June 5th. They issued a "buy" rating and a $93.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Champion Homes presently has an average rating of "Moderate Buy" and an average price target of $95.00.

Champion Homes Trading Up 2.6%

Shares of SKY opened at $85.87 on Friday. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 23.46 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.48 and a quick ratio of 1.69. Champion Homes, Inc. has a 1-year low of $60.13 and a 1-year high of $99.17. The company has a 50-day moving average of $77.63 and a 200 day moving average of $81.74.

Champion Homes (NYSE:SKY - Get Free Report) last issued its earnings results on Tuesday, May 26th. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.05. The business had revenue of $621.28 million for the quarter, compared to the consensus estimate of $607.39 million. Champion Homes had a net margin of 7.77% and a return on equity of 13.80%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. On average, research analysts expect 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.

Want to see what other hedge funds are holding SKY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Champion Homes, Inc. (NYSE:SKY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.