Oliver Lagore Vanvalin Investment Group Invests $405,000 in Champion Homes, Inc. $SKY

Key Points

• Oliver Lagore Vanvalin Investment Group invested $405,000 in Champion Homes, acquiring 6,464 shares during the second quarter, signaling growing institutional interest in the company.
• Champion Homes reported strong quarterly earnings of $1.19 EPS, exceeding analysts' estimates and showing a year-over-year revenue increase of 11.7%.
• The company's Board of Directors authorized a $50 million stock buyback program, indicating confidence in the stock's valuation.

Oliver Lagore Vanvalin Investment Group purchased a new position in Champion Homes, Inc. (NYSE:SKY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,464 shares of the company's stock, valued at approximately $405,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC raised its holdings in Champion Homes by 59.3% in the 4th quarter. ProShare Advisors LLC now owns 16,151 shares of the company's stock worth $1,423,000 after purchasing an additional 6,012 shares during the period. Point72 Asset Management L.P. raised its holdings in Champion Homes by 204.7% in the 4th quarter. Point72 Asset Management L.P. now owns 21,636 shares of the company's stock worth $1,906,000 after purchasing an additional 14,536 shares during the period. Two Sigma Advisers LP raised its holdings in Champion Homes by 3.6% in the 4th quarter. Two Sigma Advisers LP now owns 5,800 shares of the company's stock worth $511,000 after purchasing an additional 200 shares during the period. Vident Advisory LLC raised its holdings in Champion Homes by 60.0% in the 4th quarter. Vident Advisory LLC now owns 4,234 shares of the company's stock worth $373,000 after purchasing an additional 1,588 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Champion Homes by 16.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 122,804 shares of the company's stock worth $10,819,000 after purchasing an additional 17,291 shares during the period.

Champion Homes Trading Up 0.7%

Shares of Champion Homes stock traded up $0.53 on Tuesday, hitting $74.53. 68,063 shares of the company traded hands, compared to its average volume of 659,698. The stock's 50 day moving average price is $71.02 and its 200-day moving average price is $76.57. 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, Inc. has a 52 week low of $59.44 and a 52 week high of $116.49. The company has a market cap of $4.21 billion, a PE ratio of 19.82 and a beta of 1.18.

Champion Homes (NYSE:SKY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.31. The firm had revenue of $701.32 million during 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 company's revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Equities research analysts predict that Champion Homes, Inc. will post 3.63 EPS for the current year.

Champion Homes declared that its board has initiated a stock repurchase plan on Friday, May 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, EVP Joseph A. Kimmell sold 3,000 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $66.03, for a total transaction of $198,090.00. Following the transaction, the executive vice president directly owned 44,568 shares of the company's stock, valued at approximately $2,942,825.04. This represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

SKY has been the topic of a number of recent analyst reports. Barclays raised their price target on Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Royal Bank Of Canada raised their price objective on Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Finally, Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $86.00.

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.