Granite Investment Partners LLC Sells 40,839 Shares of Champion Homes, Inc. $SKY

Granite Investment Partners LLC cut its position in shares of Champion Homes, Inc. (NYSE:SKY) by 27.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,117 shares of the company’s stock after selling 40,839 shares during the period. Granite Investment Partners LLC owned approximately 0.19% of Champion Homes worth $7,892,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SKY. Los Angeles Capital Management LLC bought a new position in shares of Champion Homes during the 4th quarter valued at approximately $26,000. UMB Bank n.a. grew its position in Champion Homes by 78.9% in the fourth quarter. UMB Bank n.a. now owns 313 shares of the company’s stock worth $26,000 after acquiring an additional 138 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Champion Homes during the fourth quarter valued at approximately $26,000. Advisory Services Network LLC bought a new stake in shares of Champion Homes in the 3rd quarter valued at approximately $35,000. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Champion Homes by 258.3% in the 4th quarter. Hantz Financial Services Inc. now owns 559 shares of the company’s stock worth $47,000 after purchasing an additional 403 shares during the period.

Champion Homes Stock Down 4.8%

Shares of NYSE:SKY opened at $78.96 on Thursday. The business’s 50 day moving average is $76.79 and its 200 day moving average is $81.88. The stock has a market cap of $4.33 billion, a P/E ratio of 21.57 and a beta of 1.00. Champion Homes, Inc. has a 52-week low of $60.13 and a 52-week high of $99.17. 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 (NYSE:SKY) last issued its earnings results on Tuesday, May 26th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Champion Homes had a return on equity of 13.80% and a net margin of 7.77%.The business had revenue of $621.28 million during the quarter, compared to analyst estimates of $607.39 million. During the same period in the previous year, the company posted $0.65 EPS. Champion Homes’s revenue was up 15.2% on a year-over-year basis. Sell-side analysts predict that Champion Homes, Inc. will post 3.4 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Champion Homes

In other news, EVP Joseph A. Kimmell sold 4,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $75.91, for a total value of $303,640.00. Following the completion of the sale, the executive vice president owned 32,118 shares in the company, valued at approximately $2,438,077.38. The trade was a 11.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by insiders.

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.