Peregrine Capital Management LLC Sells 10,761 Shares of Champion Homes, Inc. $SKY

Peregrine Capital Management LLC cut its holdings in Champion Homes, Inc. (NYSE:SKY) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,520 shares of the company’s stock after selling 10,761 shares during the period. Peregrine Capital Management LLC’s holdings in Champion Homes were worth $11,953,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SKY. 111 Capital bought a new position in Champion Homes in the 2nd quarter valued at $390,000. William Blair Investment Management LLC raised its position in Champion Homes by 3.1% during the second quarter. William Blair Investment Management LLC now owns 768,166 shares of the company’s stock valued at $48,095,000 after acquiring an additional 22,833 shares in the last quarter. Third Avenue Management LLC acquired a new position in Champion Homes during the second quarter worth $3,748,000. Congress Asset Management Co. raised its position in shares of Champion Homes by 25.5% in the third quarter. Congress Asset Management Co. now owns 923,465 shares of the company’s stock valued at $70,525,000 after buying an additional 187,611 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Champion Homes by 26.8% during the second quarter. Nordea Investment Management AB now owns 117,824 shares of the company’s stock worth $7,362,000 after buying an additional 24,879 shares in the last quarter.

Analyst Upgrades and Downgrades

SKY has been the topic of several analyst reports. CJS Securities upgraded Champion Homes to a “strong-buy” rating in a report on Thursday, December 11th. Zelman & Associates raised Champion Homes from a “neutral” rating to an “outperform” rating in a research report on Friday, November 7th. Zacks Research upgraded Champion Homes from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Royal Bank Of Canada upgraded shares of Champion Homes from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $85.00 to $91.00 in a research note on Thursday, November 6th. Finally, Barclays upgraded shares of Champion Homes from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $79.00 to $100.00 in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.50.

Insider Activity at Champion Homes

In other news, EVP Joseph A. Kimmell sold 1,800 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $88.35, for a total transaction of $159,030.00. Following the completion of the sale, the executive vice president directly owned 54,177 shares of the company’s stock, valued at $4,786,537.95. The trade was a 3.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy A. Burkhardt sold 12,183 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $87.41, for a total value of $1,064,916.03. Following the completion of the transaction, the vice president directly owned 33,230 shares in the company, valued at $2,904,634.30. This trade represents a 26.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,795 shares of company stock valued at $1,372,603 over the last ninety days. 1.20% of the stock is owned by corporate insiders.

Champion Homes Price Performance

Shares of NYSE SKY opened at $90.87 on Friday. The stock’s 50-day simple moving average is $83.19 and its 200-day simple moving average is $74.83. Champion Homes, Inc. has a fifty-two week low of $59.44 and a fifty-two week high of $110.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 2.60. The firm has a market capitalization of $5.08 billion, a PE ratio of 23.60 and a beta of 1.08.

Champion Homes (NYSE:SKY) last issued its earnings results on Tuesday, November 4th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.20. The company had revenue of $684.43 million during the quarter, compared to analysts’ expectations of $636.96 million. Champion Homes had a net margin of 8.41% and a return on equity of 14.36%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. As a group, equities research analysts forecast that Champion Homes, Inc. will post 3.63 EPS for the current fiscal 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.