Versor Investments LP Takes $392,000 Position in Skyline Champion Co. (NYSE:SKY)

Versor Investments LP bought a new stake in shares of Skyline Champion Co. (NYSE:SKY) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,138 shares of the company’s stock, valued at approximately $392,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Meritage Portfolio Management lifted its position in shares of Skyline Champion by 11.1% during the 3rd quarter. Meritage Portfolio Management now owns 5,270 shares of the company’s stock valued at $500,000 after buying an additional 525 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Skyline Champion by 5.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,514 shares of the company’s stock valued at $333,000 after buying an additional 171 shares in the last quarter. Portside Wealth Group LLC lifted its position in shares of Skyline Champion by 10.0% during the 3rd quarter. Portside Wealth Group LLC now owns 3,339 shares of the company’s stock valued at $317,000 after buying an additional 304 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of Skyline Champion by 0.5% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 175,250 shares of the company’s stock valued at $16,622,000 after buying an additional 875 shares in the last quarter. Finally, Olympiad Research LP acquired a new position in Skyline Champion in the 3rd quarter valued at $348,000.

Wall Street Analyst Weigh In

Several research firms recently commented on SKY. Craig Hallum increased their price objective on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price objective on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Wedbush reissued a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price objective on Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Skyline Champion presently has an average rating of “Hold” and an average price target of $85.40.

Insider Transactions at Skyline Champion

In other Skyline Champion news, CFO Laurie M. Hough sold 5,354 shares of Skyline Champion stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $88.64, for a total transaction of $474,578.56. Following the transaction, the chief financial officer now owns 105,153 shares of the company’s stock, valued at $9,320,761.92. The trade was a 4.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Timothy A. Burkhardt sold 2,874 shares of Skyline Champion stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $89.42, for a total value of $256,993.08. Following the transaction, the vice president now directly owns 38,792 shares in the company, valued at approximately $3,468,780.64. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,192 shares of company stock valued at $12,660,782. Corporate insiders own 6.90% of the company’s stock.

Skyline Champion Stock Performance

Shares of SKY opened at $97.12 on Friday. The stock has a 50-day simple moving average of $93.00 and a 200-day simple moving average of $82.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42. The stock has a market capitalization of $5.57 billion, a PE ratio of 37.27 and a beta of 1.59. Skyline Champion Co. has a 1 year low of $58.35 and a 1 year high of $101.39.

Skyline Champion (NYSE:SKY) last issued its earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.32. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The business had revenue of $616.88 million for the quarter, compared to analyst estimates of $600.52 million. During the same quarter last year, the company earned $0.82 EPS. The business’s quarterly revenue was up 32.9% on a year-over-year basis. On average, analysts predict that Skyline Champion Co. will post 3.33 earnings per share 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.