Kornitzer Capital Management Inc. KS Boosts Stock Holdings in Skyline Champion Co. (NYSE:SKY)

Kornitzer Capital Management Inc. KS increased its holdings in shares of Skyline Champion Co. (NYSE:SKY) by 0.5% during the third quarter, Holdings Channel.com reports. The firm owned 175,250 shares of the company’s stock after buying an additional 875 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Skyline Champion were worth $16,622,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SKY. CWM LLC raised its stake in shares of Skyline Champion by 7.4% during the 3rd quarter. CWM LLC now owns 2,286 shares of the company’s stock worth $217,000 after acquiring an additional 158 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Skyline Champion by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 11,262 shares of the company’s stock valued at $763,000 after purchasing an additional 216 shares during the last quarter. Penbrook Management LLC boosted its position in shares of Skyline Champion by 2.7% in the 2nd quarter. Penbrook Management LLC now owns 9,810 shares of the company’s stock worth $665,000 after purchasing an additional 260 shares in the last quarter. Arizona State Retirement System grew its stake in Skyline Champion by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 15,359 shares of the company’s stock worth $1,041,000 after buying an additional 324 shares during the last quarter. Finally, Natixis Advisors LLC raised its stake in Skyline Champion by 0.4% in the second quarter. Natixis Advisors LLC now owns 176,640 shares of the company’s stock valued at $11,967,000 after buying an additional 634 shares during the last quarter.

Wall Street Analyst Weigh In

SKY has been the topic of a number of research analyst reports. Barclays boosted their price target on Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Jefferies Financial Group raised their price objective on Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Craig Hallum raised their target price on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their target price on shares of Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.40.

Insider Buying and Selling

In related news, Director Mak Capital One Llc sold 40,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total value of $3,554,800.00. Following the completion of the sale, the director now owns 2,716,500 shares of the company’s stock, valued at approximately $241,415,355. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Timothy A. Burkhardt sold 2,874 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 38,792 shares of the company’s stock, valued at approximately $3,468,780.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mak Capital One Llc sold 40,000 shares of Skyline Champion stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the completion of the sale, the director now owns 2,716,500 shares of the company’s stock, valued at $241,415,355. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,636 shares of company stock valued at $14,582,253. 6.90% of the stock is owned by company insiders.

Skyline Champion Stock Performance

Shares of NYSE SKY traded up $1.61 during midday trading on Thursday, reaching $93.94. 10,730 shares of the stock were exchanged, compared to its average volume of 357,394. 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 firm has a 50-day simple moving average of $92.54 and a two-hundred day simple moving average of $81.89. Skyline Champion Co. has a twelve month low of $53.84 and a twelve month high of $101.39. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 35.65 and a beta of 1.59.

Skyline Champion (NYSE:SKY) last released its quarterly earnings data on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, beating 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 company had revenue of $616.88 million during the quarter, compared to analysts’ expectations of $600.52 million. During the same quarter in the previous year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. As a group, analysts anticipate that Skyline Champion Co. will post 3.33 EPS for the current fiscal 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.