Assenagon Asset Management S.A. Grows Holdings in Champion Homes, Inc. $SKY

Assenagon Asset Management S.A. increased its position in shares of Champion Homes, Inc. (NYSE:SKY) by 50.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,748 shares of the company’s stock after purchasing an additional 14,382 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Champion Homes were worth $2,676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SKY. Kovitz Investment Group Partners LLC boosted its stake in Champion Homes by 2.7% in the first quarter. Kovitz Investment Group Partners LLC now owns 5,514 shares of the company’s stock valued at $523,000 after acquiring an additional 145 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in Champion Homes by 5.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,336 shares of the company’s stock valued at $316,000 after acquiring an additional 172 shares during the last quarter. Xponance Inc. boosted its stake in Champion Homes by 5.0% in the first quarter. Xponance Inc. now owns 4,048 shares of the company’s stock valued at $384,000 after acquiring an additional 193 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Champion Homes by 3.6% in the fourth quarter. Two Sigma Advisers LP now owns 5,800 shares of the company’s stock valued at $511,000 after acquiring an additional 200 shares during the last quarter. Finally, Portside Wealth Group LLC boosted its stake in Champion Homes by 7.4% in the first quarter. Portside Wealth Group LLC now owns 3,567 shares of the company’s stock valued at $314,000 after acquiring an additional 246 shares during the last quarter.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 1,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $65.24, for a total value of $65,240.00. Following the sale, the executive vice president directly owned 43,568 shares in the company, valued at $2,842,376.32. This represents a 2.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Champion Homes Stock Performance

Shares of SKY stock opened at $72.82 on Friday. The stock has a market capitalization of $4.12 billion, a P/E ratio of 19.37 and a beta of 1.18. The company has a current ratio of 2.39, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $71.59 and its 200 day moving average is $76.38. Champion Homes, Inc. has a 12 month low of $59.44 and a 12 month high of $116.49.

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

Champion Homes announced that its board has initiated a stock buyback program on Friday, May 30th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SKY shares. Zelman & Associates upgraded shares of Champion Homes from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 5th. Barclays boosted their target price on shares of Champion Homes from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada boosted their target price on shares of Champion Homes from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock 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.