GAMMA Investing LLC Reduces Stock Position in Champion Homes, Inc. $SKY

GAMMA Investing LLC lowered its stake in shares of Champion Homes, Inc. (NYSE:SKY) by 30.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 707 shares of the company’s stock after selling 308 shares during the quarter. GAMMA Investing LLC’s holdings in Champion Homes were worth $44,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Congress Asset Management Co. boosted its stake in shares of Champion Homes by 8.8% during the 1st quarter. Congress Asset Management Co. now owns 661,578 shares of the company’s stock valued at $62,691,000 after purchasing an additional 53,543 shares in the last quarter. Portside Wealth Group LLC raised its holdings in Champion Homes by 8.6% in the first quarter. Portside Wealth Group LLC now owns 3,873 shares of the company’s stock worth $367,000 after buying an additional 306 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Champion Homes by 27.6% during the first quarter. Handelsbanken Fonder AB now owns 19,400 shares of the company’s stock valued at $1,838,000 after purchasing an additional 4,200 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Champion Homes by 11.2% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 213,944 shares of the company’s stock valued at $20,273,000 after purchasing an additional 21,480 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Champion Homes by 16.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 473,940 shares of the company’s stock valued at $44,909,000 after purchasing an additional 66,835 shares during the last quarter.

Champion Homes Stock Performance

SKY opened at $76.35 on Friday. The firm has a market cap of $4.32 billion, a P/E ratio of 20.30 and a beta of 1.16. Champion Homes, Inc. has a 1-year low of $59.44 and a 1-year high of $116.49. The company 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 debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.59.

Champion Homes (NYSE:SKY) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.31. The business had revenue of $701.32 million during the quarter, compared to analyst estimates of $642.18 million. Champion Homes had a net margin of 8.50% and a return on equity of 14.35%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. Equities analysts forecast that Champion Homes, Inc. will post 3.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $66.03, for a total value of $198,090.00. Following the completion of the transaction, the executive vice president directly owned 44,568 shares in the company, valued at $2,942,825.04. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Champion Homes from $82.00 to $85.00 and gave the company a “sector perform” rating in a report on Thursday, August 7th. Barclays boosted their price objective on shares of Champion Homes from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Champion Homes in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Champion Homes presently has an average rating of “Hold” and an average price target of $86.00.

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.