Oppenheimer Asset Management Inc. Boosts Stock Position in Skyline Champion Co. (NYSE:SKY)

Oppenheimer Asset Management Inc. boosted its holdings in Skyline Champion Co. (NYSE:SKY) by 8.9% during the 3rd quarter, Holdings Channel reports. The firm owned 8,785 shares of the company’s stock after acquiring an additional 718 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Skyline Champion were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. bought a new stake in shares of Skyline Champion in the third quarter valued at $27,769,000. Victory Capital Management Inc. raised its stake in shares of Skyline Champion by 46.0% in the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock valued at $45,385,000 after buying an additional 211,099 shares during the period. Castleark Management LLC bought a new stake in shares of Skyline Champion in the first quarter valued at $6,366,000. Harbor Capital Advisors Inc. raised its stake in shares of Skyline Champion by 298.1% in the third quarter. Harbor Capital Advisors Inc. now owns 94,373 shares of the company’s stock valued at $8,951,000 after buying an additional 70,666 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in shares of Skyline Champion by 2.1% in the second quarter. Thrivent Financial for Lutherans now owns 2,642,123 shares of the company’s stock valued at $179,004,000 after buying an additional 53,965 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SKY. Wedbush reiterated a “neutral” rating and set a $64.00 price objective on shares of Skyline Champion in a research note on Wednesday, August 7th. Royal Bank of Canada boosted 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. Jefferies Financial Group boosted 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. StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Craig Hallum boosted 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. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $85.40.

Insider Transactions at Skyline Champion

In other news, EVP Jonathan Wade Lyall sold 10,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $89.90, for a total value of $899,000.00. Following the completion of the transaction, the executive vice president now directly owns 36,082 shares in the company, valued at approximately $3,243,771.80. This represents a 21.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mak Capital One Llc sold 80,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $90.16, for a total value of $7,212,800.00. Following the completion of the transaction, the director now owns 2,920,000 shares of the company’s stock, valued at $263,267,200. The trade was a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 132,964 shares of company stock worth $11,929,210. 6.90% of the stock is currently owned by corporate insiders.

Skyline Champion Price Performance

Shares of NYSE SKY opened at $96.79 on Tuesday. The firm has a market capitalization of $5.56 billion, a P/E ratio of 37.37 and a beta of 1.59. 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 stock’s 50-day simple moving average is $93.51 and its two-hundred day simple moving average is $83.14. Skyline Champion Co. has a twelve month low of $58.62 and a twelve month high of $101.39.

Skyline Champion (NYSE:SKY) last announced its earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.32. The business had revenue of $616.88 million for the quarter, compared to analyst estimates of $600.52 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. As a group, equities analysts anticipate that Skyline Champion Co. will post 3.43 EPS for the current fiscal year.

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.