Robotti Robert Takes $7.98 Million Position in Champion Homes, Inc. $SKY

Key Points

• Robotti Robert bought a new $7.98 million stake in Champion Homes during the second quarter, acquiring 90,596 shares and making SKY about 1.3% of the fund’s portfolio.
• Institutional interest increased, with BlackRock initiating an approximately $794 million position and several other major funds adding shares. However, company insiders sold 14,522 shares worth about $1.15 million over the past 90 days.
• Analysts remain generally positive, with Champion Homes holding a “Moderate Buy” consensus rating and a $104 average price target. The company slightly beat quarterly earnings expectations, reporting $0.88 EPS and $710.2 million in revenue.

Robotti Robert purchased a new position in Champion Homes, Inc. (NYSE:SKY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 90,596 shares of the company's stock, valued at approximately $7,983,000. Champion Homes makes up approximately 1.3% of Robotti Robert's portfolio, making the stock its 20th largest holding. Robotti Robert owned 0.17% of Champion Homes at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SKY. BlackRock Inc. bought a new stake in Champion Homes during the second quarter valued at about $794,354,000. Wellington Management Group LLP raised its holdings in Champion Homes by 7.5% in the third quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company's stock worth $366,619,000 after purchasing an additional 333,666 shares in the last quarter. Wasatch Advisors LP raised its holdings 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 lifted its position in shares of Champion Homes by 4.0% during the second quarter. State Street Corp now owns 2,579,091 shares of the company's stock valued at $161,477,000 after buying an additional 98,659 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Champion Homes by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company's stock valued at $129,111,000 after buying an additional 80,531 shares during the last quarter.

Insider Activity

In other Champion Homes news, Director Michael B. Berman sold 1,500 shares of Champion Homes stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.22, for a total transaction of $139,830.00. Following the completion of the sale, the director owned 6,825 shares of the company's stock, valued at approximately $636,226.50. The trade was a 18.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Erin Claire Helgren sold 1,100 shares of Champion Homes stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $104,500.00. Following the sale, the director directly owned 8,196 shares of the company's stock, valued at approximately $778,620. This represents a 11.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,522 shares of company stock valued at $1,147,665 over the last ninety days. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SKY shares. Weiss Ratings raised shares of Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Citigroup began coverage on shares of Champion Homes in a research report on Friday, June 5th. They set a "buy" rating and a $93.00 target price for the company. Zacks Research upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. UBS Group lifted their price target on shares of Champion Homes from $93.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Zelman & Associates raised Champion Homes from a "hold" rating to an "outperform" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Champion Homes presently has an average rating of "Moderate Buy" and a consensus target price of $104.00.

Champion Homes Stock Down 2.4%

NYSE:SKY opened at $91.01 on Wednesday. The company has a market cap of $4.94 billion, a PE ratio of 26.53 and a beta of 1.01. Champion Homes, Inc. has a twelve month low of $63.69 and a twelve month high of $99.17. The company has a current ratio of 2.74, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01. The company's 50 day moving average is $84.71 and its two-hundred day moving average is $81.12.

Champion Homes (NYSE:SKY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $701.98 million. During the same quarter last year, the company posted $1.19 earnings per share. The business's quarterly revenue was up 1.3% on a year-over-year basis. Analysts anticipate that Champion Homes, Inc. will post 3.4 EPS for the current year.

Champion Homes 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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