Neumeier Poma Investment Counsel LLC Buys Shares of 583,826 Champion Homes, Inc. $SKY

Key Points

• Neumeier Poma Investment Counsel initiated a position of 583,826 Champion Homes shares in the second quarter, representing about 1.08% of the company and 3.5% of the fund’s portfolio.
• Champion Homes slightly beat quarterly expectations, reporting $0.88 in EPS versus $0.87 expected and $710.23 million in revenue, up 1.3% year over year. Shares opened at $90.44, near their 52-week high of $99.17.
• Analyst sentiment is favorable, with a “Moderate Buy” consensus and an average price target of $104; UBS recently raised its target to $115. Meanwhile, insiders sold 14,522 shares worth approximately $1.15 million over the past quarter.

Neumeier Poma Investment Counsel LLC bought a new position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 583,826 shares of the company's stock, valued at approximately $51,446,747,000. Champion Homes comprises 3.5% of Neumeier Poma Investment Counsel LLC's portfolio, making the stock its 6th largest holding. Neumeier Poma Investment Counsel LLC owned about 1.08% of Champion Homes at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. UMB Bank n.a. grew its position in shares of Champion Homes by 78.9% in the fourth quarter. UMB Bank n.a. now owns 313 shares of the company's stock valued at $26,000 after purchasing an additional 138 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Champion Homes during the 4th quarter worth approximately $26,000. Kestra Advisory Services LLC acquired a new position in shares of Champion Homes during the 4th quarter worth approximately $26,000. Parallel Advisors LLC lifted its stake in Champion Homes by 668.6% in the 1st quarter. Parallel Advisors LLC now owns 392 shares of the company's stock valued at $29,000 after buying an additional 341 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Champion Homes in the 3rd quarter valued at approximately $35,000.

Insider Transactions at Champion Homes

In other news, Director Michael B. Berman sold 1,500 shares of Champion Homes stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.22, for a total value of $139,830.00. Following the completion of the sale, the director owned 6,825 shares of the company's stock, valued at $636,226.50. The trade was a 18.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph A. Kimmell sold 4,000 shares of Champion Homes stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total value of $303,640.00. Following the completion of the sale, the executive vice president directly owned 32,118 shares of the company's stock, valued at approximately $2,438,077.38. This represents a 11.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,522 shares of company stock worth $1,147,665 over the last quarter. 0.60% of the stock is currently owned by insiders.

Champion Homes Stock Up 0.2%

Shares of NYSE SKY opened at $90.44 on Monday. Champion Homes, Inc. has a 1 year low of $63.69 and a 1 year high of $99.17. The firm's 50 day moving average price is $85.46 and its 200 day moving average price is $81.36. The firm has a market cap of $4.91 billion, a P/E ratio of 26.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 2.74.

Champion Homes (NYSE:SKY - Get Free Report) last released its 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. The firm had revenue of $710.23 million during the quarter, compared to analysts' expectations of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. Champion Homes's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.19 EPS. As a group, sell-side analysts anticipate that Champion Homes, Inc. will post 3.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SKY. Citigroup initiated coverage on Champion Homes in a research report on Friday, June 5th. They set a "buy" rating and a $93.00 price target for the company. Zacks Research upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Zelman & Associates raised Champion Homes from a "hold" rating to an "outperform" rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Finally, UBS Group boosted their target price on shares of Champion Homes from $93.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Champion Homes presently has an average rating of "Moderate Buy" and an average price target of $104.00.

Champion Homes Profile

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.

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