Wasatch Advisors LP Decreases Stock Holdings in Skyline Champion Co. (NYSE:SKY)

Wasatch Advisors LP lowered its stake in shares of Skyline Champion Co. (NYSE:SKY) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,426,963 shares of the company’s stock after selling 110,011 shares during the quarter. Wasatch Advisors LP’s holdings in Skyline Champion were worth $121,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SKY. UBS Group AG grew its stake in Skyline Champion by 24.6% during the 3rd quarter. UBS Group AG now owns 55,622 shares of the company’s stock worth $3,544,000 after buying an additional 10,979 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Skyline Champion in the 3rd quarter valued at approximately $287,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Skyline Champion during the 3rd quarter worth approximately $216,000. Northern Trust Corp grew its position in Skyline Champion by 0.6% during the 3rd quarter. Northern Trust Corp now owns 557,331 shares of the company’s stock worth $35,513,000 after purchasing an additional 3,552 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Skyline Champion during the 3rd quarter valued at approximately $2,482,000.

Insider Activity

In other news, insider Timothy Mark Larson sold 3,500 shares of the company’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 sale, the insider now owns 48,800 shares of the company’s stock, valued at $3,512,624. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Skyline Champion news, EVP Joseph A. Kimmell sold 10,042 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $70.12, for a total transaction of $704,145.04. Following the sale, the executive vice president now owns 47,262 shares of the company’s stock, valued at $3,314,011.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Timothy Mark Larson sold 3,500 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $71.98, for a total transaction of $251,930.00. Following the completion of the sale, 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 own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SKY. Craig Hallum reduced their target price on Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Wedbush restated a “neutral” rating and issued a $72.00 price objective on shares of Skyline Champion in a research note on Wednesday, May 22nd. Royal Bank of Canada dropped their target price on Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 23rd. StockNews.com lowered shares of Skyline Champion from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, Barclays cut their price objective on shares of Skyline Champion from $76.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.80.

Skyline Champion Trading Up 0.6 %

Shares of Skyline Champion stock traded up $0.40 during mid-day trading on Tuesday, hitting $66.00. The stock had a trading volume of 549,175 shares, compared to its average volume of 313,173. The firm has a market cap of $3.82 billion, a P/E ratio of 25.98 and a beta of 1.57. The company has a quick ratio of 1.54, a current ratio of 2.36 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $73.20 and a two-hundred day moving average of $75.75. Skyline Champion Co. has a 12-month low of $52.12 and a 12-month high of $86.71.

Skyline Champion (NYSE:SKY) last announced its earnings results on Tuesday, May 21st. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). Skyline Champion had a return on equity of 13.32% and a net margin of 7.24%. The company had revenue of $536.36 million for the quarter, compared to analysts’ expectations of $560.90 million. During the same period last year, the business earned $1.00 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts forecast that Skyline Champion Co. will post 2.76 earnings per share for the current year.

About Skyline Champion

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.