Summit Partners Public Asset Management LLC Cuts Stock Holdings in Champion Homes, Inc. $SKY

Summit Partners Public Asset Management LLC trimmed its position in shares of Champion Homes, Inc. (NYSE:SKY) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,832 shares of the company’s stock after selling 21,938 shares during the quarter. Summit Partners Public Asset Management LLC owned approximately 0.85% of Champion Homes worth $39,785,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new stake in Champion Homes in the 4th quarter valued at $26,000. UMB Bank n.a. grew its stake 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 acquiring an additional 138 shares during the period. Kestra Advisory Services LLC acquired a new stake in Champion Homes in the 4th quarter valued at $26,000. Advisory Services Network LLC acquired a new stake in Champion Homes in the 3rd quarter valued at $35,000. Finally, Hantz Financial Services Inc. grew its stake in Champion Homes by 258.3% in the 4th 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.

Champion Homes Stock Performance

Shares of SKY opened at $80.78 on Wednesday. The stock has a 50 day moving average price of $75.03 and a 200 day moving average price of $82.03. The company has a quick ratio of 1.69, a current ratio of 2.48 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 22.07 and a beta of 1.04. Champion Homes, Inc. has a 52-week low of $59.44 and a 52-week high of $99.17.

Champion Homes (NYSE:SKY) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $999.00 earnings per share (EPS) for the quarter. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%. Research analysts predict that Champion Homes, Inc. will post 3.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SKY shares. Citigroup 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. Royal Bank Of Canada lowered their price objective on Champion Homes from $101.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Zacks Research downgraded Champion Homes from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Barclays lowered their price objective on Champion Homes from $106.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Finally, UBS Group initiated coverage on Champion Homes in a research report on Friday, June 5th. They set a “buy” rating and a $93.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Insider Transactions at Champion Homes

In related news, EVP Joseph A. Kimmell sold 7,922 shares of the company’s stock in a transaction that occurred 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 represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

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.