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

Granite Investment Partners LLC reduced its stake in shares of Champion Homes, Inc. (NYSE:SKY) by 27.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,117 shares of the company’s stock after selling 40,839 shares during the quarter. Granite Investment Partners LLC’s holdings in Champion Homes were worth $7,892,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SKY. UMB Bank n.a. grew its stake in Champion Homes by 78.9% in the fourth quarter. UMB Bank n.a. now owns 313 shares of the company’s stock valued at $26,000 after purchasing an additional 138 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Champion Homes during the fourth quarter valued at about $26,000. Kestra Advisory Services LLC purchased a new stake in shares of Champion Homes during the fourth quarter valued at about $26,000. Advisory Services Network LLC purchased a new stake in shares of Champion Homes during the third quarter valued at about $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 valued at $47,000 after buying an additional 403 shares in the last quarter.

Insider Transactions at Champion Homes

In other Champion Homes news, EVP Joseph A. Kimmell sold 7,922 shares of Champion Homes stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $75.70, for a total transaction of $599,695.40. Following the completion of the transaction, the executive vice president owned 36,118 shares in the company, valued at approximately $2,734,132.60. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group began coverage on shares of Champion Homes in a research report on Friday, June 5th. They set a “buy” rating and a $93.00 target price for the company. Weiss Ratings downgraded Champion Homes from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 27th. Barclays decreased their price objective on Champion Homes from $106.00 to $94.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Citigroup started coverage on Champion Homes in a report on Friday, June 5th. They issued a “buy” rating and a $93.00 price target for the company. Finally, Zacks Research downgraded shares of Champion Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 27th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Champion Homes Stock Performance

Shares of NYSE SKY opened at $78.96 on Thursday. The company has a 50 day simple moving average of $76.79 and a two-hundred day simple moving average of $81.88. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 21.57 and a beta of 1.00. The company has a current ratio of 2.48, a quick ratio of 1.69 and a debt-to-equity ratio of 0.01. Champion Homes, Inc. has a 12 month low of $60.13 and a 12 month high of $99.17.

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

Champion Homes Company 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.