Mirador Capital Partners LP Buys 3,468 Shares of Champion Homes, Inc. $SKY

Key Points

• Mirador Capital Partners LP increased its stake in Champion Homes by 7.8%, holding 47,700 shares valued at approximately $2.99 million after acquiring an additional 3,468 shares.
• Champion Homes reported a net margin of 8.50% and an EPS of $1.19 for the last quarter, exceeding estimates, with revenue also up by 11.7% year-over-year.
• The company announced a $50 million stock buyback program, indicating management's belief that its stock is undervalued.

Mirador Capital Partners LP grew its stake in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,700 shares of the company's stock after purchasing an additional 3,468 shares during the quarter. Mirador Capital Partners LP owned approximately 0.08% of Champion Homes worth $2,986,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Byrne Asset Management LLC bought a new position in shares of Champion Homes during the second quarter valued at approximately $48,000. AlphaQuest LLC boosted its position in shares of Champion Homes by 1,231.3% during the first quarter. AlphaQuest LLC now owns 852 shares of the company's stock worth $81,000 after buying an additional 788 shares during the period. GAMMA Investing LLC boosted its position in shares of Champion Homes by 306.0% during the first 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 period. Global Trust Asset Management LLC acquired a new position in shares of Champion Homes during the first quarter worth approximately $128,000. Finally, Bosun Asset Management LLC acquired a new position in shares of Champion Homes during the first quarter worth approximately $208,000.

Champion Homes Stock Down 2.4%

Shares of NYSE SKY traded down $1.82 during mid-day trading on Friday, reaching $74.50. The company had a trading volume of 1,994,138 shares, compared to its average volume of 658,461. Champion Homes, Inc. has a twelve month low of $59.44 and a twelve month high of $116.49. 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 stock has a market capitalization of $4.21 billion, a PE ratio of 19.81 and a beta of 1.18. The stock's 50 day moving average is $70.86 and its 200-day moving average is $76.88.

Champion Homes (NYSE:SKY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.88 by $0.31. The firm had revenue of $701.32 million for the quarter, compared to the consensus estimate of $642.18 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The business's quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. As a group, equities analysts anticipate that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Champion Homes announced that its board has authorized a stock buyback 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 usually an indication that the company's board believes its shares are undervalued.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $65.24, for a total transaction of $65,240.00. Following the completion of the sale, the executive vice president directly owned 43,568 shares in the company, valued at $2,842,376.32. This 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 at the SEC website. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Barclays increased their price target on Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Finally, Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $86.00.

Champion Homes Profile

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.