Bank of New York Mellon Corp Grows Position in Skyline Champion Co. (NYSE:SKY)

Bank of New York Mellon Corp raised its position in Skyline Champion Co. (NYSE:SKY) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,605 shares of the company’s stock after buying an additional 15,277 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.41% of Skyline Champion worth $15,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SKY. SummerHaven Investment Management LLC raised its position in Skyline Champion by 2.0% in 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 increased its stake in Skyline Champion by 2.7% in the second quarter. Penbrook Management LLC now owns 9,810 shares of the company’s stock valued at $665,000 after purchasing an additional 260 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of Skyline Champion by 14.8% in the first quarter. Verdence Capital Advisors LLC now owns 3,857 shares of the company’s stock valued at $328,000 after buying an additional 497 shares during the last quarter. Kessler Investment Group LLC boosted its stake in shares of Skyline Champion by 41.0% during the second quarter. Kessler Investment Group LLC now owns 2,225 shares of the company’s stock worth $151,000 after buying an additional 647 shares during the period. Finally, Virtu Financial LLC grew its holdings in shares of Skyline Champion by 16.1% during the fourth quarter. Virtu Financial LLC now owns 4,805 shares of the company’s stock worth $357,000 after buying an additional 667 shares during the last quarter.

Skyline Champion Price Performance

Skyline Champion stock opened at $88.53 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.57 and a current ratio of 2.33. Skyline Champion Co. has a one year low of $52.12 and a one year high of $93.67. The company has a market cap of $5.10 billion, a P/E ratio of 34.85 and a beta of 1.58. The business has a fifty day moving average of $80.94 and a two-hundred day moving average of $78.57.

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

Analyst Ratings Changes

A number of analysts have weighed in on SKY shares. Royal Bank of Canada increased their price objective on Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Barclays lifted their price objective on shares of Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Craig Hallum lowered their target price on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Finally, Wedbush reissued a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Skyline Champion currently has an average rating of “Hold” and an average target price of $78.75.

Insider Buying and Selling

In related news, insider Timothy Mark Larson sold 3,500 shares of Skyline Champion 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 $3,512,624. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Timothy Mark Larson sold 3,500 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $71.98, for a total value of $251,930.00. Following the sale, the insider now directly owns 48,800 shares of the company’s stock, valued at approximately $3,512,624. The sale was disclosed in a filing 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 dated 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 transaction, the director now owns 2,920,000 shares of the company’s stock, valued at approximately $263,267,200. The disclosure for this sale can be found here. Insiders have sold a total of 167,136 shares of company stock worth $14,834,183 in the last quarter. Company insiders own 6.90% of the company’s stock.

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.