Townsquare Capital LLC Buys 3,970 Shares of Champion Homes, Inc. (NYSE:SKY)

Key Points

• Townsquare Capital LLC increased its stake in Champion Homes, Inc. by 11.3%, acquiring an additional 3,970 shares, bringing its total holdings to approximately 39,155 shares valued at $3,710,000.
• Analyst ratings have shifted, with Royal Bank of Canada and Barclays raising their target prices for Champion Homes, now averaging $86.00, while four analysts rate the stock as a "Hold."
• Champion Homes reported a quarterly earnings per share of $1.19, exceeding forecasts and demonstrating an 11.7% year-over-year revenue growth with net earnings contributing to a stable financial outlook.

Townsquare Capital LLC boosted its holdings in Champion Homes, Inc. (NYSE:SKY - Free Report) by 11.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,155 shares of the company's stock after buying an additional 3,970 shares during the quarter. Townsquare Capital LLC owned approximately 0.07% of Champion Homes worth $3,710,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Capital World Investors increased its holdings in shares of Champion Homes by 31.5% during the fourth quarter. Capital World Investors now owns 2,638,862 shares of the company's stock valued at $232,484,000 after acquiring an additional 632,718 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Champion Homes by 17.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock valued at $145,055,000 after acquiring an additional 241,326 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of Champion Homes during the fourth quarter valued at approximately $98,978,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Champion Homes by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 698,052 shares of the company's stock valued at $66,147,000 after acquiring an additional 15,793 shares in the last quarter. Finally, Congress Asset Management Co. increased its holdings in shares of Champion Homes by 8.8% during the first quarter. Congress Asset Management Co. now owns 661,578 shares of the company's stock valued at $62,691,000 after acquiring an additional 53,543 shares in the last quarter.

Insider Activity

In related news, EVP Joseph A. Kimmell sold 1,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $65.24, for a total transaction of $65,240.00. Following the sale, the executive vice president directly owned 43,568 shares in the company, valued at approximately $2,842,376.32. The trade was a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.

Champion Homes Price Performance

Shares of SKY remained flat at $73.50 during mid-day trading on Friday. The company's stock had a trading volume of 183,037 shares, compared to its average volume of 642,328. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 19.55 and a beta of 1.13. The stock's 50 day moving average price is $65.08 and its two-hundred day moving average price is $81.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.59 and a current ratio of 2.39. Champion Homes, Inc. has a 52-week low of $59.44 and a 52-week high of $116.49.

Champion Homes (NYSE:SKY - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.31. The firm had revenue of $701.32 million for the quarter, compared to analyst estimates of $642.18 million. Champion Homes had a return on equity of 14.35% and a net margin of 8.50%. The business's revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, research analysts expect that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Champion Homes announced that its board has authorized a stock repurchase program on Friday, May 30th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on SKY shares. Barclays lifted their target price on Champion Homes from $72.00 to $74.00 and gave the company an "equal weight" rating in a research report on Thursday, August 7th. Royal Bank Of Canada boosted their price objective 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. Finally, Zelman & Associates raised Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Champion Homes currently has a consensus rating of "Hold" and a consensus target price of $86.00.

Champion Homes Company Profile

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.