Squarepoint Ops LLC Has $2.65 Million Stock Holdings in Champion Homes, Inc. $SKY

Key Points

• Squarepoint Ops LLC cut its Champion Homes stake by 48.8% in the second quarter, selling 28,653 shares and retaining 30,064 shares worth approximately $2.65 million. Other institutions, including BlackRock and William Blair Investment Management, initiated or expanded positions.
• Champion Homes reported quarterly EPS of $0.88, slightly above the $0.87 consensus, while revenue reached $710.23 million, up 1.3% year over year. The stock opened at $83.17, with a market capitalization of approximately $4.51 billion.
• Analyst sentiment remains favorable, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $104. UBS, Barclays and RBC recently raised their price targets, while two company directors sold shares in August.

Squarepoint Ops LLC trimmed its holdings in Champion Homes, Inc. (NYSE:SKY - Free Report) by 48.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,064 shares of the company's stock after selling 28,653 shares during the period. Squarepoint Ops LLC owned 0.06% of Champion Homes worth $2,649,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SKY. Hsbc Holdings PLC bought a new stake in Champion Homes in the second quarter worth $1,142,000. Militia Capital Management LLC bought a new position in Champion Homes during the first quarter valued at about $1,398,000. BlackRock Inc. bought a new position in Champion Homes during the second quarter valued at about $794,354,000. Union Square Park Capital Management LLC acquired a new stake in shares of Champion Homes in the first quarter worth about $1,116,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of Champion Homes in the second quarter worth about $35,030,000.

Champion Homes Stock Up 0.0%

Shares of SKY stock opened at $83.17 on Monday. Champion Homes, Inc. has a 12 month low of $63.69 and a 12 month high of $99.17. The firm has a market cap of $4.51 billion, a PE ratio of 24.25 and a beta of 1.01. The stock has a 50 day moving average of $86.32 and a 200-day moving average of $81.01. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01.

Champion Homes (NYSE:SKY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. The business had revenue of $710.23 million for the quarter, compared to the consensus estimate of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. Champion Homes's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $1.19 earnings per share. On average, equities analysts predict that Champion Homes, Inc. will post 3.4 EPS for the current year.

Insider Buying and Selling at Champion Homes

In other Champion Homes news, Director Erin Helgren sold 1,100 shares of the firm's stock in a transaction on Friday, August 7th. The shares were 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 in the company, valued at $778,620. This trade represents a 11.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Berman sold 1,500 shares of the business's 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 transaction, the director owned 6,825 shares in the company, valued at approximately $636,226.50. The trade was a 18.02% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SKY. Weiss Ratings raised Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. UBS Group lifted their price target on shares of Champion Homes from $93.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Zacks Research raised shares of Champion Homes from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Barclays lifted their target price on shares of Champion Homes from $102.00 to $109.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Champion Homes from $92.00 to $99.00 and gave the stock 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 assigned a Hold rating to the company. According to data from MarketBeat, Champion Homes presently has an average rating of "Moderate Buy" and a consensus price target of $104.00.

About Champion Homes

Champion Homes, Inc, formerly known as Skyline Champion Corporation, designs and manufactures factory-built housing for residential, commercial and specialized applications. Its portfolio includes manufactured homes, modular homes, park model homes, accessory dwelling units and other prefabricated structures, offered through a range of brands and configurations.

The company sells its products through independent and company-owned retailers, builders and developers, serving customers across the United States and parts of Canada.

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