Oliver Lagore Vanvalin Investment Group Purchases Shares of 6,464 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 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 Form 13F filing with the Securities & Exchange Commission. The firm bought 6,464 shares of the company's stock, valued at approximately $405,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mirador Capital Partners LP lifted its holdings in shares of Champion Homes by 7.8% during the second quarter. Mirador Capital Partners LP now owns 47,700 shares of the company's stock worth $2,986,000 after buying an additional 3,468 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Champion Homes during the second quarter worth $48,000. Voya Investment Management LLC lifted its holdings in shares of Champion Homes by 3.5% during the first quarter. Voya Investment Management LLC now owns 565,132 shares of the company's stock worth $53,552,000 after buying an additional 19,102 shares in the last quarter. Strs Ohio acquired a new stake in shares of Champion Homes during the first quarter worth $1,336,000. Finally, Intech Investment Management LLC increased its position in shares of Champion Homes by 27.4% in the first quarter. Intech Investment Management LLC now owns 27,696 shares of the company's stock worth $2,624,000 after purchasing an additional 5,953 shares during the period.

Champion Homes Trading Down 0.4%

Shares of SKY stock traded down $0.28 during mid-day trading on Monday, reaching $74.13. 716,397 shares of the stock traded hands, compared to its average volume of 661,163. The stock's fifty day simple moving average is $70.86 and its two-hundred day simple moving average is $76.73. Champion Homes, Inc. has a 1-year low of $59.44 and a 1-year high of $116.49. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 19.72 and a beta of 1.18. 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 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.31. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%.The firm had revenue of $701.32 million for the quarter, compared to analyst estimates of $642.18 million. During the same period last year, the firm posted $0.91 earnings per share. The business's revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts anticipate that Champion Homes, Inc. will post 3.63 EPS for the current fiscal year.

Champion Homes declared that its board has approved a share buyback program on Friday, May 30th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

SKY has been the topic of a number of recent analyst reports. Zelman & Associates upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Barclays raised their price target on Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, 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 research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $86.00.

Insider Activity at Champion Homes

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

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.