Gabelli Funds LLC Cuts Stake in Champion Homes, Inc. $SKY

Gabelli Funds LLC reduced its stake in shares of Champion Homes, Inc. (NYSE:SKY) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,500 shares of the company’s stock after selling 10,100 shares during the quarter. Gabelli Funds LLC owned about 0.22% of Champion Homes worth $11,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its holdings in Champion Homes by 17.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company’s stock valued at $145,055,000 after buying an additional 241,326 shares in the last quarter. Burgundy Asset Management Ltd. grew its holdings in Champion Homes by 6.8% during the 1st quarter. Burgundy Asset Management Ltd. now owns 812,204 shares of the company’s stock valued at $76,964,000 after buying an additional 51,853 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Champion Homes by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 698,052 shares of the company’s stock valued at $66,147,000 after buying an additional 15,793 shares in the last quarter. Congress Asset Management Co. grew its holdings in shares of Champion Homes by 8.8% in the first 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. Finally, Northern Trust Corp grew its holdings in shares of Champion Homes by 12.1% in the first quarter. Northern Trust Corp now owns 641,115 shares of the company’s stock valued at $60,752,000 after purchasing an additional 69,200 shares in the last quarter.

Insider Buying and Selling at Champion Homes

In other news, EVP Joseph A. Kimmell sold 1,000 shares of Champion Homes stock in a transaction on Monday, August 11th. The stock was sold at an average price of $65.24, for a total transaction of $65,240.00. Following the completion of the sale, the executive vice president directly owned 43,568 shares in the company, valued at approximately $2,842,376.32. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SKY shares. Zelman & Associates raised shares of Champion Homes from a “strong sell” rating to a “hold” rating in a report on Thursday, June 5th. Royal Bank Of Canada raised their target price 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, Barclays raised their target price 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. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.00.

Champion Homes Stock Up 0.6%

NYSE SKY opened at $74.93 on Thursday. 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 fifty day moving average of $66.97 and a two-hundred day moving average of $80.27. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 19.93 and a beta of 1.13. Champion Homes, Inc. has a 52 week low of $59.44 and a 52 week high of $116.49.

Champion Homes (NYSE:SKY) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $0.88 by $0.31. The company 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%. Champion Homes’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. On average, analysts predict that Champion Homes, Inc. will post 3.63 earnings per share for the current year.

Champion Homes announced that its board has authorized a stock repurchase program on Friday, May 30th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Champion Homes Company 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.