Vaughan Nelson Investment Management L.P. Sells 447,725 Shares of Champion Homes, Inc. $SKY

Key Points

• Vaughan Nelson Investment Management L.P. significantly reduced its holdings in Champion Homes, Inc. by 94.5% during the 2nd quarter, selling 447,725 shares, leaving it with only 26,215 shares valued at approximately $1.64 million.
• Despite the sale, other institutional investors, such as GAMMA Investing LLC and Oppenheimer & Co., increased their stakes in Champion Homes, reflecting varied investor sentiment.
• Champion Homes reported a better-than-expected quarterly earnings of $1.19 per share, surpassing estimates by $0.31, with revenue also surpassing analyst expectations at $701.32 million.

Vaughan Nelson Investment Management L.P. decreased its position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) by 94.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,215 shares of the company's stock after selling 447,725 shares during the quarter. Vaughan Nelson Investment Management L.P.'s holdings in Champion Homes were worth $1,641,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Champion Homes by 306.0% during the 1st quarter. GAMMA Investing LLC now owns 1,015 shares of the company's stock worth $96,000 after acquiring an additional 765 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Champion Homes by 142.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,394 shares of the company's stock worth $701,000 after acquiring an additional 4,341 shares during the period. Principal Financial Group Inc. grew its stake in shares of Champion Homes by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 262,811 shares of the company's stock worth $24,904,000 after acquiring an additional 5,887 shares during the period. New York State Teachers Retirement System grew its stake in shares of Champion Homes by 3.4% during the 1st quarter. New York State Teachers Retirement System now owns 12,300 shares of the company's stock worth $1,166,000 after acquiring an additional 400 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Champion Homes by 4.3% during the 1st quarter. Bessemer Group Inc. now owns 244,149 shares of the company's stock worth $23,136,000 after acquiring an additional 10,107 shares during the period.

Insider Buying and Selling at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $65.24, for a total value of $65,240.00. Following the sale, the executive vice president owned 43,568 shares of the company's stock, valued at $2,842,376.32. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SKY has been the subject of several research reports. Royal Bank Of Canada increased their price target on Champion Homes from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Champion Homes in a research note on Saturday, September 27th. Finally, Barclays raised their target price on Champion Homes from $72.00 to $74.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 7th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $86.00.

Champion Homes Stock Down 1.6%

Shares of NYSE SKY opened at $76.35 on Friday. Champion Homes, Inc. has a 52 week low of $59.44 and a 52 week high of $116.49. The business has a 50-day simple moving average of $72.90 and a two-hundred day simple moving average of $75.54. The company has a quick ratio of 1.59, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The company has a market cap of $4.32 billion, a P/E ratio of 20.30 and a beta of 1.16.

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

Champion Homes 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.

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