Gabelli Funds LLC Lowers Stock Position in Skyline Champion Co. (NYSE:SKY)

Gabelli Funds LLC lowered its position in Skyline Champion Co. (NYSE:SKYFree Report) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,100 shares of the company’s stock after selling 1,600 shares during the period. Gabelli Funds LLC owned about 0.29% of Skyline Champion worth $10,871,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its holdings in Skyline Champion by 230.9% during the first quarter. Thrivent Financial for Lutherans now owns 1,119,551 shares of the company’s stock worth $84,224,000 after buying an additional 781,209 shares during the last quarter. Norges Bank purchased a new stake in Skyline Champion during the fourth quarter worth about $29,368,000. SG Capital Management LLC increased its holdings in Skyline Champion by 1,608.7% during the first quarter. SG Capital Management LLC now owns 395,505 shares of the company’s stock worth $29,754,000 after buying an additional 372,358 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Skyline Champion by 6.1% in the first quarter. Wellington Management Group LLP now owns 5,864,485 shares of the company’s stock worth $321,842,000 after purchasing an additional 335,974 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Skyline Champion by 4.9% in the third quarter. Vanguard Group Inc. now owns 5,901,968 shares of the company’s stock worth $312,037,000 after purchasing an additional 275,120 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on SKY. Craig Hallum lifted their target price on shares of Skyline Champion from $75.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Barclays reduced their target price on shares of Skyline Champion from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday, November 2nd. Royal Bank of Canada reduced their target price on shares of Skyline Champion from $68.00 to $55.00 and set a “sector perform” rating for the company in a research note on Thursday, November 2nd. StockNews.com downgraded shares of Skyline Champion from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. Finally, Wedbush restated an “outperform” rating and issued a $78.00 price objective on shares of Skyline Champion in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Skyline Champion presently has a consensus rating of “Hold” and a consensus target price of $67.40.

Check Out Our Latest Analysis on SKY

Insider Buying and Selling at Skyline Champion

In other Skyline Champion news, Director Keith A. Anderson sold 10,000 shares of Skyline Champion stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $72.64, for a total transaction of $726,400.00. Following the completion of the sale, the director now directly owns 238,098 shares in the company, valued at $17,295,438.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Skyline Champion news, Director Keith A. Anderson sold 5,000 shares of Skyline Champion stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $73.26, for a total transaction of $366,300.00. Following the completion of the sale, the director now directly owns 238,098 shares in the company, valued at $17,443,059.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith A. Anderson sold 10,000 shares of Skyline Champion stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $72.64, for a total transaction of $726,400.00. Following the transaction, the director now directly owns 238,098 shares in the company, valued at $17,295,438.72. The disclosure for this sale can be found here. Insiders sold a total of 19,113 shares of company stock worth $1,384,888 over the last three months. 7.00% of the stock is owned by insiders.

Skyline Champion Price Performance

SKY stock opened at $59.93 on Tuesday. The firm has a 50 day moving average of $61.32 and a 200-day moving average of $64.72. The company has a current ratio of 4.02, a quick ratio of 3.27 and a debt-to-equity ratio of 0.01. Skyline Champion Co. has a 12 month low of $48.63 and a 12 month high of $76.82. The firm has a market capitalization of $3.45 billion, a P/E ratio of 14.55 and a beta of 1.70.

Skyline Champion (NYSE:SKYGet Free Report) last announced its earnings results on Tuesday, October 31st. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.01). Skyline Champion had a net margin of 11.86% and a return on equity of 18.98%. The company had revenue of $464.24 million for the quarter, compared to the consensus estimate of $458.57 million. During the same quarter in the previous year, the firm earned $2.51 earnings per share. The company’s revenue for the quarter was down 42.5% compared to the same quarter last year. As a group, sell-side analysts predict that Skyline Champion Co. will post 3.15 earnings per share for the current fiscal year.

Skyline Champion Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Skyline Champion (NYSE:SKY)

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