Assenagon Asset Management S.A. Invests $27.77 Million in Skyline Champion Co. (NYSE:SKY)

Assenagon Asset Management S.A. acquired a new stake in Skyline Champion Co. (NYSE:SKY) during the third quarter, according to its most recent filing with the SEC. The firm acquired 292,766 shares of the company’s stock, valued at approximately $27,769,000. Assenagon Asset Management S.A. owned about 0.51% of Skyline Champion at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SKY. Headlands Technologies LLC purchased a new stake in shares of Skyline Champion in the first quarter valued at about $63,000. nVerses Capital LLC purchased a new stake in Skyline Champion in the 3rd quarter valued at approximately $76,000. Kessler Investment Group LLC increased its position in Skyline Champion by 41.0% during the 2nd quarter. Kessler Investment Group LLC now owns 2,225 shares of the company’s stock worth $151,000 after purchasing an additional 647 shares during the period. CWM LLC raised its stake in shares of Skyline Champion by 7.4% during the 3rd quarter. CWM LLC now owns 2,286 shares of the company’s stock worth $217,000 after buying an additional 158 shares in the last quarter. Finally, OLD National Bancorp IN acquired a new stake in shares of Skyline Champion in the 3rd quarter valued at approximately $225,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on SKY. Jefferies Financial Group increased their price objective on Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Barclays raised their price objective on shares of Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Royal Bank of Canada upped their target price on shares of Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Wedbush reissued a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a research note on Wednesday, August 7th. Finally, StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $80.20.

Insider Buying and Selling

In related news, Director Mak Capital One Llc sold 40,000 shares of Skyline Champion stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the sale, the director now owns 2,716,500 shares of the company’s stock, valued at $241,415,355. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Mak Capital One Llc sold 40,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total value of $3,554,800.00. Following the sale, the director now directly owns 2,716,500 shares of the company’s stock, valued at $241,415,355. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael B. Berman sold 3,496 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $82.34, for a total transaction of $287,860.64. Following the transaction, the director now directly owns 8,099 shares of the company’s stock, valued at approximately $666,871.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,636 shares of company stock valued at $14,582,253. Corporate insiders own 6.90% of the company’s stock.

Skyline Champion Price Performance

Skyline Champion stock opened at $88.13 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.57 and a current ratio of 2.33. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 34.70 and a beta of 1.57. Skyline Champion Co. has a 1 year low of $52.12 and a 1 year high of $101.39. The firm has a 50 day moving average price of $92.49 and a 200 day moving average price of $81.21.

Skyline Champion (NYSE:SKY) last issued its earnings results on Tuesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. Skyline Champion had a return on equity of 13.07% and a net margin of 6.45%. The business had revenue of $627.80 million during the quarter, compared to analysts’ expectations of $600.39 million. During the same quarter in the previous year, the business earned $0.89 EPS. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. Sell-side analysts predict that Skyline Champion Co. will post 3.01 earnings per share for the current year.

Skyline Champion Company Profile

Skyline Champion Corporation produces and sells factory-built housing in North America. The company offers manufactured and modular homes, park models RVs, accessory dwelling units, and modular buildings for the multi-family and hospitality sectors. It builds homes under the Skyline Homes, Champion Home Builders, Genesis Homes, Athens Park Models, Dutch Housing, Atlantic Homes, Excel Homes, Homes of Merit, New Era, Redman Homes, ScotBilt Homes, Shore Park, Silvercrest, and Titan Homes brands in the United States; and Moduline and SRI Homes brand names in western Canada.