Royce & Associates LP Has $29.06 Million Position in Skyline Champion Co. (NYSE:SKY)

Royce & Associates LP lowered its stake in shares of Skyline Champion Co. (NYSE:SKY) by 30.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,417 shares of the company’s stock after selling 132,574 shares during the quarter. Royce & Associates LP’s holdings in Skyline Champion were worth $29,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Skyline Champion during the first quarter worth $63,000. nVerses Capital LLC bought a new stake in Skyline Champion during the third quarter worth $76,000. Kessler Investment Group LLC lifted its stake in 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 purchasing an additional 647 shares during the last quarter. CWM LLC lifted its stake in Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company’s stock worth $217,000 after purchasing an additional 158 shares during the last quarter. Finally, OLD National Bancorp IN bought a new stake in Skyline Champion during the third quarter worth $225,000.

Skyline Champion Stock Up 0.1 %

Shares of NYSE:SKY opened at $97.15 on Friday. The firm has a market cap of $5.58 billion, a P/E ratio of 37.51 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. Skyline Champion Co. has a 12-month low of $58.35 and a 12-month high of $101.39. The business has a fifty day simple moving average of $93.32 and a 200 day simple moving average of $82.90.

Skyline Champion (NYSE:SKY) last announced its earnings results on Monday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.32. The business had revenue of $616.88 million during 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%. Skyline Champion’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. Analysts predict that Skyline Champion Co. will post 3.43 earnings per share for the current year.

Insider Buying and Selling

In other Skyline Champion news, VP Timothy A. Burkhardt sold 2,874 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $89.42, for a total transaction of $256,993.08. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph A. Kimmell sold 2,964 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $88.60, for a total value of $262,610.40. Following the sale, the executive vice president now owns 47,262 shares of the company’s stock, valued at approximately $4,187,413.20. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 141,192 shares of company stock valued at $12,660,782 in the last three months. Insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

SKY has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Craig Hallum increased their price target on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wedbush reiterated a “neutral” rating and issued a $64.00 price target on shares of Skyline Champion in a research note on Wednesday, August 7th. StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays increased their price target on Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Skyline Champion currently has a consensus rating of “Hold” and a consensus target price of $85.40.

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.