Trexquant Investment LP Sells 29,009 Shares of Champion Homes, Inc. $SKY

Key Points

• Trexquant Investment LP has reduced its stake in Champion Homes, Inc. by 69.5%, selling 29,009 shares and leaving it with 12,718 shares valued at approximately $1,205,000.
• Champion Homes reported an earnings per share (EPS) of $1.19, surpassing the consensus estimate of $0.88, with a revenue of $701.32 million for the recent quarter.
• The company has initiated a stock buyback plan allowing for the repurchase of up to $50 million in shares, which indicates the board's belief that its shares are undervalued.

Trexquant Investment LP cut its position in Champion Homes, Inc. (NYSE:SKY - Free Report) by 69.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,718 shares of the company's stock after selling 29,009 shares during the quarter. Trexquant Investment LP's holdings in Champion Homes were worth $1,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SKY. AlphaQuest LLC grew its stake in Champion Homes by 1,231.3% in the 1st quarter. AlphaQuest LLC now owns 852 shares of the company's stock valued at $81,000 after buying an additional 788 shares during the last quarter. GAMMA Investing LLC grew its stake in Champion Homes by 306.0% in the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock valued at $96,000 after buying an additional 765 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in Champion Homes in the 1st quarter valued at $128,000. PharVision Advisers LLC acquired a new position in Champion Homes in the 4th quarter valued at $216,000. Finally, Shay Capital LLC acquired a new position in Champion Homes in the 4th quarter valued at $220,000.

Analysts Set New Price Targets

A number of research firms recently issued reports on SKY. Royal Bank Of Canada raised their target price on shares of Champion Homes from $82.00 to $85.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Barclays raised their price target on shares of Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Finally, Zelman & Associates upgraded shares of Champion Homes from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $86.00.

Insider Activity at Champion Homes

In other news, EVP Joseph A. Kimmell sold 3,000 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $66.03, for a total transaction of $198,090.00. Following the completion of the transaction, the executive vice president directly owned 44,568 shares of the company's stock, valued at approximately $2,942,825.04. This trade represents a 6.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company's stock.

Champion Homes Price Performance

Shares of NYSE:SKY traded down $1.58 during midday trading on Friday, reaching $74.65. 368,536 shares of the company's stock were exchanged, compared to its average volume of 673,728. The company's 50 day simple moving average is $69.90 and its two-hundred day simple moving average is $77.90. The firm has a market capitalization of $4.22 billion, a PE ratio of 19.85 and a beta of 1.18. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $116.49. 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 (NYSE:SKY - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.31. The company had revenue of $701.32 million during the quarter, compared to the consensus estimate of $642.18 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. Equities research analysts expect that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Champion Homes declared that its board has approved a share repurchase program on Friday, May 30th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

About Champion Homes

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.