Champion Homes, Inc. (NYSE:SKY) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Champion Homes, Inc. (NYSE:SKY) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,853,600 shares of the company’s stock after selling 89,392 shares during the quarter. Vanguard Group Inc. owned about 10.22% of Champion Homes worth $554,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. New Age Alpha Advisors LLC boosted its stake in shares of Champion Homes by 35.3% during the 1st quarter. New Age Alpha Advisors LLC now owns 2,699 shares of the company’s stock valued at $256,000 after buying an additional 704 shares during the last quarter. Natixis Advisors LLC boosted its stake in Champion Homes by 10.6% during the first quarter. Natixis Advisors LLC now owns 92,776 shares of the company’s stock valued at $8,791,000 after buying an additional 8,869 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in Champion Homes by 4.8% during the first quarter. Arkadios Wealth Advisors now owns 6,400 shares of the company’s stock valued at $606,000 after buying an additional 295 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in shares of Champion Homes by 134.4% in the 1st quarter. Integrated Investment Consultants LLC now owns 247,458 shares of the company’s stock valued at $23,449,000 after purchasing an additional 141,904 shares during the period. Finally, Burney Co. boosted its position in shares of Champion Homes by 7.1% in the 1st quarter. Burney Co. now owns 13,126 shares of the company’s stock valued at $1,244,000 after purchasing an additional 872 shares during the period.

Insider Buying and Selling

In related news, EVP Joseph A. Kimmell sold 3,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was 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 represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SKY shares. Zelman & Associates upgraded Champion Homes from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 5th. Barclays boosted their price objective 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. Finally, Royal Bank Of Canada boosted their price target on Champion Homes from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $86.00.

Champion Homes Trading Down 1.2%

NYSE SKY opened at $73.49 on Friday. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $116.49. The stock has a 50-day simple moving average of $65.08 and a 200 day simple moving average of $81.64. The company has a market capitalization of $4.15 billion, a PE ratio of 19.54 and a beta of 1.13. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02.

Champion Homes (NYSE:SKY) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, topping 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 company had revenue of $701.32 million during the quarter, compared to analysts’ expectations of $642.18 million. During the same period in the prior year, the firm earned $0.91 earnings per share. Champion Homes’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts forecast that Champion Homes, Inc. will post 3.63 EPS for the current year.

Champion Homes announced that its board has initiated a share buyback plan on Friday, May 30th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 1.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is 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.