State of New Jersey Common Pension Fund D Has $2.10 Million Stock Holdings in Skyline Champion Co. (NYSE:SKY)

State of New Jersey Common Pension Fund D lowered its stake in shares of Skyline Champion Co. (NYSE:SKY) by 17.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 22,148 shares of the company’s stock after selling 4,694 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Skyline Champion were worth $2,101,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Meritage Portfolio Management boosted its position in Skyline Champion by 11.1% during the third quarter. Meritage Portfolio Management now owns 5,270 shares of the company’s stock valued at $500,000 after purchasing an additional 525 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Skyline Champion by 5.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,514 shares of the company’s stock worth $333,000 after purchasing an additional 171 shares in the last quarter. Portside Wealth Group LLC grew its stake in shares of Skyline Champion by 10.0% in the 3rd quarter. Portside Wealth Group LLC now owns 3,339 shares of the company’s stock valued at $317,000 after buying an additional 304 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Skyline Champion by 0.5% in the third quarter. Kornitzer Capital Management Inc. KS now owns 175,250 shares of the company’s stock worth $16,622,000 after buying an additional 875 shares during the last quarter. Finally, Olympiad Research LP bought a new position in Skyline Champion during the third quarter valued at approximately $348,000.

Analyst Ratings Changes

Several analysts have commented on SKY shares. Barclays boosted their target price 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 increased their target price on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Royal Bank of Canada boosted their target price on Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.40.

Insider Activity at Skyline Champion

In related news, EVP Joseph A. Kimmell sold 2,964 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $88.60, for a total value of $262,610.40. Following the completion of the transaction, the executive vice president now directly owns 47,262 shares in the company, valued at approximately $4,187,413.20. This represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mak Capital One Llc sold 80,000 shares of Skyline Champion stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $90.16, for a total transaction of $7,212,800.00. Following the sale, the director now owns 2,920,000 shares in the company, valued at $263,267,200. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,192 shares of company stock worth $12,660,782 in the last ninety days. 6.90% of the stock is currently owned by insiders.

Skyline Champion Trading Up 0.1 %

Skyline Champion stock opened at $97.15 on Friday. Skyline Champion Co. has a 52 week low of $58.35 and a 52 week high of $101.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42. The firm has a market capitalization of $5.58 billion, a PE ratio of 37.51 and a beta of 1.59. The business’s 50-day simple moving average is $93.32 and its 200-day simple moving average is $82.90.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.61 by $0.32. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The company had revenue of $616.88 million for the quarter, compared to the consensus estimate of $600.52 million. During the same period in the previous year, the business posted $0.82 EPS. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. Equities research analysts forecast 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.