State of New Jersey Common Pension Fund D Sells 6,994 Shares of Skyline Champion Co. (NYSE:SKY)

State of New Jersey Common Pension Fund D trimmed its holdings in Skyline Champion Co. (NYSE:SKY) by 20.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,842 shares of the company’s stock after selling 6,994 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Skyline Champion were worth $1,819,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Headlands Technologies LLC boosted its stake in Skyline Champion by 413.0% in the 2nd quarter. Headlands Technologies LLC now owns 3,776 shares of the company’s stock worth $256,000 after purchasing an additional 3,040 shares during the period. Quest Partners LLC bought a new position in shares of Skyline Champion during the 2nd quarter valued at approximately $372,000. Arizona State Retirement System boosted its position in shares of Skyline Champion by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 15,359 shares of the company’s stock valued at $1,041,000 after acquiring an additional 324 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Skyline Champion by 46.0% during the 2nd quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock valued at $45,385,000 after acquiring an additional 211,099 shares during the last quarter. Finally, Cannon Global Investment Management LLC bought a new position in shares of Skyline Champion during the 2nd quarter valued at approximately $217,000.

Insider Activity

In related news, Director Mak Capital One Llc sold 80,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 2,920,000 shares in the company, valued at $263,267,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Skyline Champion news, Director Mak Capital One Llc sold 80,000 shares of the business’s stock in a transaction on 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 $263,267,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Wade Lyall sold 10,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $89.90, for a total value of $899,000.00. Following the transaction, the executive vice president now directly owns 36,082 shares in the company, valued at approximately $3,243,771.80. The disclosure for this sale can be found here. Insiders sold 163,636 shares of company stock worth $14,582,253 over the last three months. 6.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wedbush restated a “neutral” rating and issued a $64.00 price target on shares of Skyline Champion in a research report on Wednesday, August 7th. StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada raised their price target 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. Finally, Barclays raised their price target on Skyline Champion from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $78.75.

Skyline Champion Trading Down 0.3 %

Skyline Champion stock opened at $92.55 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 2.33 and a debt-to-equity ratio of 0.02. Skyline Champion Co. has a 52 week low of $52.12 and a 52 week high of $97.22. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 36.44 and a beta of 1.58. The stock has a 50-day moving average price of $85.61 and a 200 day moving average price of $79.16.

Skyline Champion (NYSE:SKY) last announced its quarterly 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. The company had revenue of $627.80 million during the quarter, compared to analysts’ expectations of $600.39 million. Skyline Champion had a return on equity of 13.07% and a net margin of 6.45%. Skyline Champion’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period last year, the business earned $0.89 earnings per share. Sell-side analysts anticipate that Skyline Champion Co. will post 3.01 EPS 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.