Covestor Ltd Sells 600 Shares of Skyline Champion Co. (NYSE:SKY)

Covestor Ltd cut its holdings in Skyline Champion Co. (NYSE:SKY) by 56.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 456 shares of the company’s stock after selling 600 shares during the quarter. Covestor Ltd’s holdings in Skyline Champion were worth $43,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its holdings in shares of Skyline Champion by 2.1% during the second quarter. Thrivent Financial for Lutherans now owns 2,642,123 shares of the company’s stock worth $179,004,000 after acquiring an additional 53,965 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Skyline Champion by 0.3% during the 2nd quarter. William Blair Investment Management LLC now owns 1,197,889 shares of the company’s stock worth $81,157,000 after buying an additional 3,313 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Skyline Champion by 4.4% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock worth $57,206,000 after purchasing an additional 35,880 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in shares of Skyline Champion by 3.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 768,346 shares of the company’s stock valued at $52,055,000 after buying an additional 24,353 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Skyline Champion by 46.0% during the 2nd quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock worth $45,385,000 after purchasing an additional 211,099 shares in the last quarter.

Wall Street Analyst Weigh In

SKY has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Wedbush reissued a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a research report on Wednesday, August 7th. Barclays lifted their price objective on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Craig Hallum lifted their target price on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.40.

Insider Buying and Selling at Skyline Champion

In related news, VP Timothy A. Burkhardt sold 2,874 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $89.42, for a total value of $256,993.08. Following the completion of the transaction, the vice president now directly owns 38,792 shares of the company’s stock, valued at approximately $3,468,780.64. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mak Capital One Llc sold 80,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $90.16, for a total transaction of $7,212,800.00. Following the completion of the transaction, the director now directly owns 2,920,000 shares of the company’s stock, valued at approximately $263,267,200. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,192 shares of company stock worth $12,660,782. Company insiders own 6.90% of the company’s stock.

Skyline Champion Trading Up 0.1 %

NYSE:SKY opened at $97.15 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $93.32 and a 200 day moving average of $82.90. The firm has a market capitalization of $5.58 billion, a P/E ratio of 37.51 and a beta of 1.59. Skyline Champion Co. has a 52 week low of $58.35 and a 52 week high of $101.39.

Skyline Champion (NYSE:SKY) last released its earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.32. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The firm had revenue of $616.88 million for the quarter, compared to the consensus estimate of $600.52 million. During the same period in the prior year, the firm earned $0.82 EPS. The company’s revenue was up 32.9% compared to the same quarter last year. On average, research analysts predict that Skyline Champion Co. will post 3.43 earnings per share for the current year.

Skyline Champion 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.