Meeder Asset Management Inc. Grows Stock Position in Champion Homes, Inc. $SKY

Meeder Asset Management Inc. increased its stake in shares of Champion Homes, Inc. (NYSE:SKY) by 1,559.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,450 shares of the company’s stock after purchasing an additional 19,218 shares during the quarter. Meeder Asset Management Inc.’s holdings in Champion Homes were worth $1,521,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in shares of Champion Homes by 66.1% in the first quarter. Royal Bank of Canada now owns 10,804 shares of the company’s stock valued at $1,024,000 after acquiring an additional 4,301 shares in the last quarter. AQR Capital Management LLC purchased a new position in Champion Homes during the first quarter worth about $294,000. Millennium Management LLC raised its holdings in Champion Homes by 712.0% during the first quarter. Millennium Management LLC now owns 70,029 shares of the company’s stock worth $6,636,000 after purchasing an additional 61,405 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Champion Homes in the second quarter valued at about $408,000. Finally, Invesco Ltd. boosted its holdings in Champion Homes by 150.6% in the 2nd quarter. Invesco Ltd. now owns 655,107 shares of the company’s stock valued at $41,016,000 after purchasing an additional 393,686 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SKY. Citigroup began coverage on Champion Homes in a research note on Friday, June 5th. They set a “buy” rating and a $93.00 target price for the company. Barclays increased their price objective on Champion Homes from $94.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada reduced their target price on Champion Homes from $101.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Zacks Research lowered shares of Champion Homes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Finally, UBS Group initiated coverage on shares of Champion Homes in a research note on Friday, June 5th. They set a “buy” rating and a $93.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Insiders Place Their Bets

In other Champion Homes news, EVP Joseph A. Kimmell sold 4,000 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 32,118 shares of the company’s stock, valued at approximately $2,438,077.38. This represents a 11.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Champion Homes Price Performance

Shares of NYSE:SKY opened at $81.52 on Tuesday. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.48 and a quick ratio of 1.69. The business’s 50 day simple moving average is $78.07 and its 200-day simple moving average is $81.69. Champion Homes, Inc. has a 12 month low of $60.13 and a 12 month high of $99.17.

Champion Homes (NYSE:SKY) last released its quarterly earnings data on Tuesday, May 26th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $621.28 million during the quarter, compared to the consensus estimate of $607.39 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.Champion Homes’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. As a group, equities analysts forecast that Champion Homes, Inc. will post 3.4 earnings per share for the current fiscal year.

About Champion Homes

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.