AlphaQuest LLC Has $415,000 Stake in Champion Homes, Inc. $SKY

AlphaQuest LLC boosted its holdings in shares of Champion Homes, Inc. (NYSE:SKY) by 678.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,631 shares of the company’s stock after buying an additional 5,779 shares during the quarter. AlphaQuest LLC’s holdings in Champion Homes were worth $415,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in Champion Homes by 10,171.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 719 shares of the company’s stock valued at $45,000 after acquiring an additional 712 shares during the period. Byrne Asset Management LLC bought a new stake in Champion Homes during the second quarter valued at about $48,000. Blue Trust Inc. boosted its holdings in Champion Homes by 49.8% during the second quarter. Blue Trust Inc. now owns 900 shares of the company’s stock valued at $56,000 after acquiring an additional 299 shares during the period. GAMMA Investing LLC boosted its holdings in Champion Homes by 306.0% during the first quarter. GAMMA Investing LLC now owns 1,015 shares of the company’s stock valued at $96,000 after acquiring an additional 765 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Champion Homes by 2,030.8% during the second quarter. Fifth Third Bancorp now owns 2,770 shares of the company’s stock valued at $173,000 after acquiring an additional 2,640 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SKY shares. Barclays upped their price target 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. Weiss Ratings restated a “hold (c)” rating on shares of Champion Homes in a report on Wednesday, October 8th. Royal Bank Of Canada upped their price target 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. Finally, Zacks Research downgraded Champion Homes from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $79.50.

Champion Homes Trading Down 8.7%

Shares of SKY opened at $66.07 on Thursday. Champion Homes, Inc. has a 12-month low of $59.44 and a 12-month high of $116.49. 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 firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 17.57 and a beta of 1.16. The stock’s 50-day moving average price is $73.91 and its 200 day moving average price is $73.04.

Champion Homes (NYSE:SKY) last issued its quarterly 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 company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. As a group, research analysts predict that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

Insider Buying and Selling

In other Champion Homes 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 owned 44,568 shares in the company, valued at $2,942,825.04. This trade represents a 6.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

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.