The Manufacturers Life Insurance Company Invests $2.60 Million in Champion Homes, Inc. $SKY

Key Points

• The Manufacturers Life Insurance Company initiated a $2.60 million position in Champion Homes, purchasing 29,536 shares and owning approximately 0.05% of the company.
• Wall Street’s outlook remains favorable, with analysts assigning Champion Homes a consensus “Moderate Buy” rating and an average price target of $104.00.
• Champion Homes slightly exceeded quarterly expectations, reporting $0.88 in EPS versus $0.87 expected and $710.23 million in revenue, while insiders sold 14,522 shares worth approximately $1.15 million over the past 90 days.

The Manufacturers Life Insurance Company purchased a new position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,536 shares of the company's stock, valued at approximately $2,603,000. The Manufacturers Life Insurance Company owned about 0.05% of Champion Homes at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SKY. UMB Bank n.a. boosted its stake in Champion Homes by 78.9% in the fourth quarter. UMB Bank n.a. now owns 313 shares of the company's stock valued at $26,000 after acquiring an additional 138 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Champion Homes during the 4th quarter valued at $26,000. Kestra Advisory Services LLC bought a new stake in shares of Champion Homes during the 4th quarter valued at $26,000. Parallel Advisors LLC lifted its stake in shares of Champion Homes by 668.6% in the 1st quarter. Parallel Advisors LLC now owns 392 shares of the company's stock valued at $29,000 after purchasing an additional 341 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Champion Homes in the 3rd quarter valued at $35,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SKY shares. Barclays lifted their price objective on Champion Homes from $102.00 to $109.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Citigroup initiated coverage on Champion Homes in a research note on Friday, June 5th. They issued a "buy" rating and a $93.00 target price on the stock. Zacks Research upgraded Champion Homes from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Zelman & Associates upgraded Champion Homes from a "hold" rating to an "outperform" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings raised Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 7th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $104.00.

Insider Buying and Selling at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 7,922 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $75.70, for a total value of $599,695.40. Following the completion of the sale, the executive vice president directly owned 36,118 shares in the company, valued at $2,734,132.60. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael B. Berman sold 1,500 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $93.22, for a total value of $139,830.00. Following the sale, the director directly owned 6,825 shares in the company, valued at approximately $636,226.50. This represents a 18.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 14,522 shares of company stock valued at $1,147,665. Company insiders own 0.60% of the company's stock.

Champion Homes Trading Up 0.5%

Shares of NYSE SKY opened at $86.11 on Thursday. Champion Homes, Inc. has a twelve month low of $63.69 and a twelve month high of $99.17. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 25.10 and a beta of 1.01. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. The company's fifty day moving average is $86.56 and its 200-day moving average is $81.56.

Champion Homes (NYSE:SKY - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.01. The business had revenue of $710.23 million during the quarter, compared to analysts' expectations of $701.98 million. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The firm's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 EPS. Equities research analysts predict that Champion Homes, Inc. will post 3.4 EPS for the current year.

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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