Nordea Investment Management AB Has $7.36 Million Holdings in Champion Homes, Inc. $SKY

Key Points

• Nordea Investment Management AB increased its stake in Champion Homes by 26.8% in Q2, bringing its total holdings to approximately $7.36 million.
• Champion Homes recently reported an earnings per share (EPS) of $1.19 for the last quarter, exceeding estimates and representing a year-over-year revenue increase of 11.7%.
• Several hedge funds have recently adjusted their positions in Champion Homes, reflecting ongoing interest and activity in the stock among institutional investors.

Nordea Investment Management AB raised its stake in Champion Homes, Inc. (NYSE:SKY - Free Report) by 26.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,824 shares of the company's stock after purchasing an additional 24,879 shares during the period. Nordea Investment Management AB owned approximately 0.21% of Champion Homes worth $7,362,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC boosted its holdings in Champion Homes by 2.7% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 5,514 shares of the company's stock valued at $523,000 after purchasing an additional 145 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Champion Homes by 5.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,336 shares of the company's stock valued at $316,000 after purchasing an additional 172 shares during the period. Xponance Inc. boosted its holdings in Champion Homes by 5.0% in the 1st quarter. Xponance Inc. now owns 4,048 shares of the company's stock valued at $384,000 after purchasing an additional 193 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Champion Homes by 5.7% in the 2nd quarter. Verdence Capital Advisors LLC now owns 4,612 shares of the company's stock valued at $289,000 after purchasing an additional 248 shares during the period. Finally, Arkadios Wealth Advisors boosted its holdings in Champion Homes by 4.8% in the 1st quarter. Arkadios Wealth Advisors now owns 6,400 shares of the company's stock valued at $606,000 after purchasing an additional 295 shares during the period.

Insider Transactions at Champion Homes

In related news, EVP Joseph A. Kimmell sold 3,000 shares of Champion Homes stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $66.03, for a total transaction of $198,090.00. Following the completion of the transaction, the executive vice president directly owned 44,568 shares of the company's stock, valued at $2,942,825.04. This trade represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SKY has been the subject of a number of research reports. Royal Bank Of Canada increased their price target on shares of Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. Zacks Research downgraded shares of Champion Homes from a "hold" rating to a "strong sell" rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Champion Homes in a report on Wednesday, October 8th. Finally, Barclays raised their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $86.00.

Champion Homes Trading Up 0.3%

Shares of SKY stock opened at $75.92 on Tuesday. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49. The company has a market capitalization of $4.29 billion, a P/E ratio of 20.19 and a beta of 1.16. The firm has a 50-day moving average price of $73.74 and a 200 day moving average price of $73.49. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02.

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

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.

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