Kornitzer Capital Management Inc. KS Sells 32,000 Shares of Champion Homes, Inc. $SKY

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Champion Homes, Inc. (NYSE:SKY) by 21.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 114,731 shares of the company’s stock after selling 32,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Champion Homes were worth $8,533,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its holdings in Champion Homes by 78.9% in the 4th quarter. UMB Bank n.a. now owns 313 shares of the company’s stock valued at $26,000 after buying an additional 138 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Champion Homes in the 4th quarter worth approximately $26,000. Kestra Advisory Services LLC acquired a new position in shares of Champion Homes during the fourth quarter worth approximately $26,000. Advisory Services Network LLC acquired a new position in shares of Champion Homes during the third quarter worth approximately $35,000. Finally, Hantz Financial Services Inc. boosted its position in shares of Champion Homes by 258.3% in the fourth quarter. Hantz Financial Services Inc. now owns 559 shares of the company’s stock valued at $47,000 after acquiring an additional 403 shares during the period.

Insider Buying and Selling

In related news, EVP Joseph A. Kimmell sold 7,922 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $75.70, for a total value of $599,695.40. Following the completion of the transaction, the executive vice president directly owned 36,118 shares of the company’s stock, valued at $2,734,132.60. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SKY. Weiss Ratings downgraded shares of Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Barclays cut their target price on shares of Champion Homes from $106.00 to $94.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. Zacks Research downgraded shares of Champion Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. UBS Group assumed coverage on shares of Champion Homes in a research report on Friday, June 5th. They issued a “buy” rating and a $93.00 price target on the stock. Finally, Citigroup assumed coverage on shares of Champion Homes in a report on Friday, June 5th. They set a “buy” rating and a $93.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $93.00.

Champion Homes Stock Performance

Shares of SKY stock traded down $1.68 during mid-day trading on Friday, reaching $81.29. The stock had a trading volume of 646,947 shares, compared to its average volume of 797,447. The firm’s 50 day simple moving average is $76.98 and its 200 day simple moving average is $81.84. The company has a quick ratio of 1.69, a current ratio of 2.48 and a debt-to-equity ratio of 0.01. Champion Homes, Inc. has a one year low of $60.13 and a one year high of $99.17. The firm has a market cap of $4.46 billion, a PE ratio of 22.21 and a beta of 1.00.

Champion Homes (NYSE:SKY) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. The company had revenue of $621.28 million for the quarter, compared to analyst estimates of $607.39 million. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.Champion Homes’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 EPS. On average, analysts forecast that Champion Homes, Inc. will post 3.4 EPS for the current year.

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.