Rice Hall James & Associates LLC Makes New $2.88 Million Investment in Champion Homes, Inc. $SKY

Rice Hall James & Associates LLC purchased a new position in Champion Homes, Inc. (NYSE:SKY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,693 shares of the company’s stock, valued at approximately $2,881,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of Champion Homes by 66.1% during the 1st quarter. Royal Bank of Canada now owns 10,804 shares of the company’s stock worth $1,024,000 after acquiring an additional 4,301 shares during the last quarter. AQR Capital Management LLC bought a new position in Champion Homes in the first quarter valued at $294,000. Millennium Management LLC raised its position in Champion Homes by 712.0% during the first quarter. Millennium Management LLC now owns 70,029 shares of the company’s stock valued at $6,636,000 after purchasing an additional 61,405 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Champion Homes during the second quarter worth about $408,000. Finally, Invesco Ltd. lifted its stake in Champion Homes by 150.6% during the second quarter. Invesco Ltd. now owns 655,107 shares of the company’s stock worth $41,016,000 after purchasing an additional 393,686 shares during the last quarter.

Insider Activity at Champion Homes

In related news, Director Michael B. Berman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $93.22, for a total transaction of $139,830.00. Following the transaction, the director directly owned 6,825 shares in the company, valued at $636,226.50. This trade represents a 18.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph A. Kimmell sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $75.91, for a total value of $303,640.00. Following the transaction, the executive vice president owned 32,118 shares in the company, valued at approximately $2,438,077.38. The trade was a 11.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,522 shares of company stock worth $1,147,665 in the last ninety days. 0.60% of the stock is owned by company insiders.

Champion Homes Stock Performance

Champion Homes stock opened at $91.01 on Wednesday. The firm has a fifty day simple moving average of $84.71 and a two-hundred day simple moving average of $81.12. The company has a quick ratio of 1.97, a current ratio of 2.74 and a debt-to-equity ratio of 0.01. Champion Homes, Inc. has a twelve month low of $63.69 and a twelve month high of $99.17. The company has a market capitalization of $4.94 billion, a PE ratio of 26.53 and a beta of 1.01.

Champion Homes (NYSE:SKY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The firm had revenue of $710.23 million for the quarter, compared to analysts’ expectations of $701.98 million. Champion Homes had a return on equity of 12.52% and a net margin of 7.16%.The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $1.19 earnings per share. Research analysts expect that Champion Homes, Inc. will post 3.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SKY. Royal Bank Of Canada increased their price objective on Champion Homes from $92.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Zelman & Associates upgraded Champion Homes from a “hold” rating to an “outperform” rating in a research report on Thursday, August 6th. Citigroup assumed coverage on Champion Homes in a research note on Friday, June 5th. They issued a “buy” rating and a $93.00 target price for the company. Weiss Ratings upgraded shares of Champion Homes from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, August 7th. Finally, Zacks Research raised shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.00.

Champion Homes Profile

Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.

The company’s product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.