Cannon Global Investment Management LLC Purchases Shares of 3,200 Skyline Champion Co. (NYSE:SKY)

Cannon Global Investment Management LLC acquired a new stake in Skyline Champion Co. (NYSE:SKY) during the second quarter, Holdings Channel reports. The institutional investor acquired 3,200 shares of the company’s stock, valued at approximately $217,000.

Several other institutional investors have also recently modified their holdings of SKY. Rhumbline Advisers raised its position in Skyline Champion by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 86,947 shares of the company’s stock worth $5,891,000 after buying an additional 2,449 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Skyline Champion by 0.4% during the 2nd quarter. Natixis Advisors LLC now owns 176,640 shares of the company’s stock valued at $11,967,000 after acquiring an additional 634 shares during the period. Van ECK Associates Corp increased its stake in shares of Skyline Champion by 3.6% in the 2nd quarter. Van ECK Associates Corp now owns 23,516 shares of the company’s stock valued at $1,593,000 after purchasing an additional 809 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of Skyline Champion during the 2nd quarter worth approximately $285,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in Skyline Champion by 13.1% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 192,774 shares of the company’s stock valued at $13,060,000 after purchasing an additional 22,330 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Barclays raised their price objective on shares of Skyline Champion from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Royal Bank of Canada boosted their target price on shares of Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Craig Hallum cut their price target on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, Wedbush reiterated a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $78.75.

Insider Buying and Selling

In related news, insider Timothy Mark Larson sold 3,500 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $71.98, for a total transaction of $251,930.00. Following the completion of the transaction, the insider now directly owns 48,800 shares of the company’s stock, valued at approximately $3,512,624. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Laurie M. Hough sold 5,354 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $88.64, for a total value of $474,578.56. Following the transaction, the chief financial officer now owns 105,153 shares of the company’s stock, valued at $9,320,761.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy Mark Larson sold 3,500 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $71.98, for a total value of $251,930.00. Following the transaction, the insider now directly owns 48,800 shares of the company’s stock, valued at $3,512,624. The disclosure for this sale can be found here. Insiders have sold a total of 47,136 shares of company stock valued at $4,066,583 in the last ninety days. Company insiders own 6.90% of the company’s stock.

Skyline Champion Trading Up 0.9 %

Skyline Champion stock traded up $0.84 during trading on Wednesday, hitting $90.19. The company had a trading volume of 52,629 shares, compared to its average volume of 347,378. The company has a current ratio of 2.33, a quick ratio of 1.57 and a debt-to-equity ratio of 0.02. The company’s 50 day simple moving average is $79.63 and its 200-day simple moving average is $78.36. Skyline Champion Co. has a 1-year low of $52.12 and a 1-year high of $93.67. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 35.18 and a beta of 1.57.

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