Skyline Champion Co. (NYSE:SKY) Shares Purchased by Seven Eight Capital LP

Seven Eight Capital LP boosted its holdings in shares of Skyline Champion Co. (NYSE:SKY) by 154.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,783 shares of the company’s stock after purchasing an additional 13,220 shares during the period. Seven Eight Capital LP’s holdings in Skyline Champion were worth $1,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in shares of Skyline Champion by 21.9% in the fourth quarter. Principal Financial Group Inc. now owns 15,964 shares of the company’s stock worth $1,185,000 after buying an additional 2,863 shares during the last quarter. Norges Bank acquired a new stake in shares of Skyline Champion during the 4th quarter worth approximately $34,476,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Skyline Champion during the 4th quarter valued at approximately $620,000. PNC Financial Services Group Inc. lifted its stake in shares of Skyline Champion by 378.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 33,669 shares of the company’s stock valued at $2,500,000 after purchasing an additional 26,631 shares during the period. Finally, UBS Group AG boosted its holdings in Skyline Champion by 46.0% during the fourth quarter. UBS Group AG now owns 81,214 shares of the company’s stock worth $6,031,000 after buying an additional 25,592 shares in the last quarter.

Skyline Champion Trading Up 3.0 %

Shares of Skyline Champion stock opened at $95.65 on Friday. Skyline Champion Co. has a twelve month low of $52.12 and a twelve month high of $97.22. The firm’s 50-day moving average price is $84.78 and its 200 day moving average price is $79.03. 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 firm has a market capitalization of $5.51 billion, a PE ratio of 37.66 and a beta of 1.58.

Skyline Champion (NYSE:SKY) last released its earnings results on Tuesday, August 6th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.22. Skyline Champion had a return on equity of 13.07% and a net margin of 6.45%. The business had revenue of $627.80 million for the quarter, compared to the consensus estimate of $600.39 million. During the same quarter last year, the business posted $0.89 earnings per share. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, sell-side analysts predict that Skyline Champion Co. will post 3.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Michael B. Berman sold 3,496 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $82.34, for a total value of $287,860.64. Following the transaction, the director now directly owns 8,099 shares of the company’s stock, valued at $666,871.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Michael B. Berman sold 3,496 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $82.34, for a total transaction of $287,860.64. Following the completion of the sale, the director now owns 8,099 shares of the company’s stock, valued at approximately $666,871.66. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Timothy Mark Larson sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $83.00, for a total transaction of $456,500.00. Following the completion of the transaction, the insider now directly owns 43,300 shares in the company, valued at $3,593,900. The disclosure for this sale can be found here. Insiders have sold a total of 163,636 shares of company stock valued at $14,582,253 in the last 90 days. 6.90% of the stock is owned by insiders.

Skyline Champion 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.