Keeley Teton Advisors LLC Grows Stock Holdings in Champion Homes, Inc. $SKY

Key Points

• Keeley Teton Advisors LLC increased its stake in Champion Homes, Inc. by 36.4%, holding 18,931 shares valued at approximately $1.79 million.
• Champion Homes reported a quarterly EPS of $1.19, surpassing the consensus estimate of $0.88, and a net margin of 8.50%.
• The company initiated a $50 million share repurchase program, indicating management's belief that its shares are undervalued.

Keeley Teton Advisors LLC lifted its stake in Champion Homes, Inc. (NYSE:SKY - Free Report) by 36.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,931 shares of the company's stock after acquiring an additional 5,050 shares during the quarter. Keeley Teton Advisors LLC's holdings in Champion Homes were worth $1,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC grew its position in Champion Homes by 1,231.3% in the 1st quarter. AlphaQuest LLC now owns 852 shares of the company's stock worth $81,000 after purchasing an additional 788 shares during the period. GAMMA Investing LLC boosted its stake in shares of Champion Homes by 306.0% in the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after buying an additional 765 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Champion Homes in the first quarter worth $128,000. PharVision Advisers LLC purchased a new stake in Champion Homes during the fourth quarter valued at $216,000. Finally, Sowell Financial Services LLC bought a new position in Champion Homes in the first quarter valued at about $233,000.

Insider Activity at Champion Homes

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 stock was sold at an average price of $65.24, for a total transaction of $65,240.00. Following the sale, the executive vice president directly owned 43,568 shares of the company's stock, valued at $2,842,376.32. This trade represents a 2.24% 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. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on SKY. Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 5th. Royal Bank Of Canada raised their price objective on shares of Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Barclays upped their target price on shares of Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $86.00.

Champion Homes Stock Performance

Shares of NYSE:SKY traded up $0.56 during mid-day trading on Friday, reaching $75.49. 635,903 shares of the company traded hands, compared to its average volume of 789,935. The company's 50 day moving average price is $67.56 and its 200-day moving average price is $79.85. The firm has a market cap of $4.27 billion, a PE ratio of 20.08 and a beta of 1.13. Champion Homes, Inc. has a 52 week low of $59.44 and a 52 week high of $116.49. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59.

Champion Homes (NYSE:SKY - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.31. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The company had revenue of $701.32 million for the quarter, compared to analysts' expectations of $642.18 million. During the same quarter last year, the business earned $0.91 EPS. The firm's revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Champion Homes declared that its Board of Directors has approved a share repurchase plan on Friday, May 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

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.