CWH
Camping World Holdings, INC
NYSE
SCHEDULE 13G: Millennium Management Discloses 5.3% Passive Stake in Camping World Holdings
Sentiment:
Beneficial Ownership Report
9 June 2025 8:00 PM
Millennium Management LLC, along with Millennium Group Management LLC and Israel A. Englander, has disclosed a passive beneficial ownership of 5.3% in Camping World Holdings, Inc.'s Class A Common Stock.
Better than expected
The disclosure of a new 5.3% passive stake by a major institutional investor like Millennium Management is generally viewed as a positive signal for the company, indicating confidence from a sophisticated market participant.
Summary
- Millennium Management LLC, Millennium Group Management LLC, and Israel A. Englander collectively reported beneficial ownership of 3,342,370 shares of Camping World Holdings, Inc. Class A Common Stock.
- This ownership represents 5.3% of the Class A Common Stock outstanding.
- The filing is a Schedule 13G, indicating a passive investment, meaning the shares were not acquired or held for the purpose of changing or influencing the control of Camping World Holdings, Inc.
- The event requiring this filing occurred on June 4, 2025.
- The reporting persons share both voting and dispositive power over the 3,342,370 shares.
Sentiment
Score: 7
Explanation: The disclosure of a significant passive stake by a reputable institutional investor like Millennium Management is generally a positive signal, indicating confidence in the company's value proposition, although it does not imply active engagement in management or strategy.
Positives
- The acquisition of a significant 5.3% passive stake by a prominent investment firm like Millennium Management LLC signals confidence in Camping World Holdings, Inc.'s prospects from a sophisticated institutional investor.
Future Outlook
This document is a beneficial ownership report and does not contain forward-looking statements or guidance from the issuer.
Industry Context
The disclosure of a significant passive stake by a major investment firm like Millennium Management in Camping World Holdings, a leading retailer of recreational vehicles (RVs) and outdoor lifestyle products, suggests that institutional investors continue to see value in the leisure and outdoor recreation sector. This could reflect optimism about consumer spending trends in these areas or the specific strategic positioning of Camping World within the industry.
Stakeholder Impact
- Shareholders: The entry of a significant institutional investor may increase market confidence and potentially lead to positive share price movement.
- Management: The presence of a large passive investor typically does not directly impact day-to-day operations or strategic decisions, as the investor explicitly states no intent to influence control.
Key Dates
- 06/04/2025: Date of event which requires the filing of this statement (acquisition of beneficial ownership).
- 06/06/2025: Date the Schedule 13G was signed and filed.
Keywords
Camping World Holdings, Millennium Management, Israel A. Englander, Schedule 13G, Beneficial Ownership, Class A Common Stock, Institutional Investment, Passive Stake, RV Retail, Outdoor Lifestyle
CWH
Camping World Holdings, INC
NYSE
Sector: TBD
Filings with Classifications
Better than expected
9 June 2025 8:00 PM
Beneficial Ownership Report
- The disclosure of a new 5.3% passive stake by a major institutional investor like Millennium Management is generally viewed as a positive signal for the company, indicating confidence from a sophisticated market participant.
Worse than expected
1 May 2025 5:04 PM
Quarterly Report
- The company reported a net loss, which is worse than breakeven or a profit.
- Active customer count decreased by 14.2% year-over-year.
- Good Sam Club membership decreased by 13.2% year-over-year.
Better than expected
29 April 2025 4:10 PM
Earnings Release
- The company's Adjusted EBITDA increased nearly 4x year-over-year.
- The company's net loss improved by 51.4% year-over-year.
Worse than expected
4 April 2025 4:05 PM
Definitive Proxy Statement
- The company experienced a net loss of $(78.9) million in 2024, compared to net income in previous years.
- Adjusted EBITDA decreased by 37.5% from 2023 to 2024.
- The company had a shortfall from the budgeted Adjusted EBITDA goal of $371.4 million with final consolidated Adjusted EBITDA performance of $178.8 million.
Worse than expected
28 February 2025 9:06 PM
Annual Results
- Revenue decreased from $6.23 billion to $6.10 billion.
- Net income decreased from $52.9 million to a net loss of $(78.9) million.
- Adjusted EBITDA decreased from $286.2 million to $178.8 million.
Better than expected
25 February 2025 4:10 PM
Earnings Release
- The company's Q4 results show improvements in revenue, gross profit, and adjusted EBITDA compared to the previous year, indicating a positive trend.
Worse than expected
13 February 2025 2:00 AM
Beneficial Ownership Amendment
- The document states that the previously disclosed belief that CWGS Holding, LLC and ML Acquisition Company, LLC would be dissolved by December 31, 2024, did not materialize. This non-occurrence of an expected event, particularly one that could simplify corporate structure, is a negative deviation from prior expectations.
Delay expected
13 February 2025 2:00 AM
Beneficial Ownership Amendment
- The dissolution of CWGS Holding, LLC and ML Acquisition Company, LLC, which was previously expected to occur by December 31, 2024, has been delayed indefinitely, as the Reporting Persons do not know when it may occur in the future.
Better than expected
14 January 2025 4:31 PM
Investor Presentation
- Camping World's new unit sales growth of 22% significantly outperformed the industry's decline of 13%.
Capital raise
1 November 2024 4:15 PM
Capital Raise Announcement
- The company is issuing 14,634,146 shares of Class A common stock at $20.50 per share.
- Underwriters have an option to purchase an additional 2,195,121 shares.
- The company expects to receive approximately $288.8 million in net proceeds from the offering.
Worse than expected
29 October 2024 4:05 PM
Quarterly Report
- The company's net income attributable to Camping World Holdings, Inc. decreased significantly year-over-year.
- The company's gross profit decreased by 4.7% year-over-year.
- The company's same store revenue decreased by 2.7%.
Worse than expected
28 October 2024 4:10 PM
Quarterly Report
- Net income decreased by 73.9% year-over-year, indicating a significant decline in profitability.
- Adjusted EBITDA decreased by 28.9% year-over-year, reflecting a substantial drop in operational performance.
- Diluted earnings per share decreased by 71.9% year-over-year, showing a sharp decline in earnings per share.
- Used vehicle revenue decreased by 24.2% year-over-year, indicating a significant drop in sales in this segment.
Worse than expected
13 September 2024 7:09 PM
SEC Form 4 Filing
- The CEO selling a significant amount of shares is worse than expected.
Capital raise
30 August 2024 4:06 PM
Credit Agreement Amendment
- The company has increased its borrowing capacity by $50 million.
- There is an option to request an additional $100 million in borrowing capacity.
Worse than expected
1 August 2024 4:05 PM
Quarterly Report
- The company's net income attributable to Camping World Holdings decreased significantly by 66.0% year-over-year.
- The company's same-store revenue decreased by 10.8%, indicating a decline in sales performance at established locations.
- The company's used vehicle revenue decreased by 22.8%, reflecting a significant downturn in that segment.
Worse than expected
31 July 2024 4:10 PM
Quarterly Report
- Net income decreased by 63.8% year-over-year.
- Adjusted EBITDA decreased by 24.2% year-over-year.
- Used vehicle revenue decreased by 22.8% year-over-year.
- The company experienced a decline in average selling prices for both new and used vehicles.
Worse than expected
3 May 2024 4:12 PM
Quarterly Report
- The company's net loss of $22.3 million is a significant decrease from the net income of $3.2 million in the same period last year.
- The company's total revenue decreased by 8.3% year-over-year, indicating a decline in sales.
- The company's used vehicle sales and gross profit experienced a substantial decline, impacting overall profitability.
- The company's active customer base decreased by 8.8% year-over-year, indicating a loss of market share.
Worse than expected
1 May 2024 4:10 PM
Quarterly Report
- The company reported a net loss of $50.8 million, a significant downturn from the previous year's net income of $4.9 million.
- Adjusted EBITDA decreased substantially by 86.5% to $8.2 million.
- Gross profit and gross margin decreased, impacting overall profitability.
Worse than expected
21 February 2024 4:12 PM
Annual Results
- The company's full-year revenue, net income, and adjusted EBITDA were all significantly lower than the previous year.
- The company experienced a net loss for the fourth quarter.
- The company reduced its annualized cash dividend by $1.00 per share.
Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.