Nuveen LLC Invests $13.74 Million in Champion Homes, Inc. $SKY

Key Points

• Nuveen LLC acquired a new position in Champion Homes, Inc., purchasing 144,958 shares valued at approximately $13.74 million, representing 0.25% ownership.
• Multiple large investors, including Ameriprise Financial and Charles Schwab, increased their stakes in Champion Homes during the past quarter, indicating strong institutional interest.
• Champion Homes reported an earnings per share (EPS) of $1.19, exceeding expectations, and announced a $50 million share repurchase program suggesting confidence in their stock's value.

Nuveen LLC acquired a new position in Champion Homes, Inc. (NYSE:SKY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 144,958 shares of the company's stock, valued at approximately $13,736,000. Nuveen LLC owned about 0.25% of Champion Homes as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Champion Homes by 306.0% in the first quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock valued at $96,000 after acquiring an additional 765 shares in the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Champion Homes during the 1st quarter valued at $128,000. PharVision Advisers LLC purchased a new position in Champion Homes during the 4th quarter worth $216,000. Shay Capital LLC purchased a new position in Champion Homes during the 4th quarter worth $220,000. Finally, Sowell Financial Services LLC acquired a new position in Champion Homes during the 1st quarter valued at about $233,000.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, EVP Joseph A. Kimmell sold 3,000 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $66.03, for a total value of $198,090.00. Following the sale, the executive vice president owned 44,568 shares in the company, valued at $2,942,825.04. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Champion Homes Stock Performance

Shares of SKY stock traded up $4.6160 during trading hours on Friday, hitting $76.0860. The company's stock had a trading volume of 813,635 shares, compared to its average volume of 778,067. The stock has a market cap of $4.30 billion, a PE ratio of 20.24 and a beta of 1.13. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49. The company has a 50 day moving average of $66.14 and a 200 day moving average of $80.72. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02.

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

Champion Homes declared that its board has authorized a share repurchase plan on Friday, May 30th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

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.