PEAK6 LLC Invests $4.50 Million in Champion Homes, Inc. $SKY

Key Points

• PEAK6 LLC acquired a new $4.5 million position in Champion Homes during the second quarter, purchasing 51,064 shares and owning approximately 0.09% of the company.
• Analyst sentiment remains positive: Champion Homes has a consensus “Moderate Buy” rating and an average price target of $104, with several firms recently raising their targets.
• Champion Homes exceeded quarterly expectations with $0.88 in EPS versus $0.87 forecast and $710.23 million in revenue, up 1.3% year over year; SKY recently traded at $90.44.

PEAK6 LLC 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 (SEC). The institutional investor purchased 51,064 shares of the company's stock, valued at approximately $4,500,000. PEAK6 LLC owned about 0.09% of Champion Homes at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Champion Homes in the 2nd quarter valued at about $794,354,000. Wellington Management Group LLP raised its stake in shares of Champion Homes by 7.5% during the third quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company's stock valued at $366,619,000 after acquiring an additional 333,666 shares in the last quarter. Wasatch Advisors LP grew its stake in Champion Homes by 0.4% in the second quarter. Wasatch Advisors LP now owns 2,747,516 shares of the company's stock worth $242,111,000 after purchasing an additional 10,749 shares in the last quarter. State Street Corp increased its holdings in Champion Homes by 4.0% during the 2nd quarter. State Street Corp now owns 2,579,091 shares of the company's stock worth $161,477,000 after purchasing an additional 98,659 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Champion Homes by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company's stock worth $129,111,000 after purchasing an additional 80,531 shares during the period.

Analyst Upgrades and Downgrades

SKY has been the topic of a number of recent research reports. UBS Group increased their price target on Champion Homes from $93.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Royal Bank Of Canada raised their target price on shares of Champion Homes from $92.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Barclays upped their price target on shares of Champion Homes from $102.00 to $109.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Citigroup started coverage on shares of Champion Homes in a research note on Friday, June 5th. They issued a "buy" rating and a $93.00 price objective for the company. Finally, Zelman & Associates raised Champion Homes from a "hold" rating to an "outperform" rating in a research report 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 given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $104.00.

Champion Homes Stock Up 0.2%

SKY stock opened at $90.44 on Monday. The stock has a market capitalization of $4.91 billion, a PE ratio of 26.37 and a beta of 1.01. Champion Homes, Inc. has a 52 week low of $63.69 and a 52 week high of $99.17. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $85.46 and a 200 day moving average of $81.36.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.01. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The business had revenue of $710.23 million for the quarter, compared to analyst estimates of $701.98 million. During the same quarter in the prior year, the business posted $1.19 EPS. Champion Homes's revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts forecast that Champion Homes, Inc. will post 3.4 earnings per share for the current year.

Insider Transactions at Champion Homes

In other Champion Homes news, Director Erin Claire Helgren sold 1,100 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $104,500.00. Following the transaction, the director owned 8,196 shares in the company, valued at approximately $778,620. This trade represents a 11.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Joseph A. Kimmell sold 4,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total transaction of $303,640.00. Following the completion of the sale, the executive vice president owned 32,118 shares of the company's stock, valued at $2,438,077.38. This trade represents a 11.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,522 shares of company stock valued at $1,147,665 in the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Champion Homes Company 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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