Cibc World Markets Corp Makes New Investment in Skyline Champion Co. (NYSE:SKY)

Cibc World Markets Corp acquired a new stake in Skyline Champion Co. (NYSE:SKY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,020 shares of the company’s stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SKY. JPMorgan Chase & Co. boosted its position in Skyline Champion by 137.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 127,307 shares of the company’s stock worth $12,075,000 after purchasing an additional 73,697 shares in the last quarter. Summit Partners Public Asset Management LLC lifted its stake in shares of Skyline Champion by 23.3% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 404,673 shares of the company’s stock valued at $38,383,000 after purchasing an additional 76,573 shares during the period. Algert Global LLC boosted its holdings in Skyline Champion by 164.1% during the third quarter. Algert Global LLC now owns 14,590 shares of the company’s stock worth $1,384,000 after buying an additional 9,066 shares in the last quarter. Bank of New York Mellon Corp grew its position in Skyline Champion by 80.7% during the fourth quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company’s stock valued at $30,928,000 after buying an additional 156,757 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in Skyline Champion by 26.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 119,154 shares of the company’s stock valued at $10,497,000 after buying an additional 24,781 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SKY. Barclays increased their target price on shares of Skyline Champion from $90.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their price target on Skyline Champion from $88.00 to $96.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Skyline Champion presently has a consensus rating of “Hold” and an average price target of $90.20.

Skyline Champion Trading Down 0.7 %

Shares of Skyline Champion stock opened at $94.25 on Monday. The company has a current ratio of 2.59, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. Skyline Champion Co. has a twelve month low of $64.82 and a twelve month high of $116.49. The firm has a market capitalization of $5.40 billion, a PE ratio of 33.19 and a beta of 1.61. The firm’s 50-day moving average price is $97.06 and its 200 day moving average price is $95.72.

Skyline Champion (NYSE:SKY) last released its earnings results on Tuesday, February 4th. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.24. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. On average, sell-side analysts predict that Skyline Champion Co. will post 3.63 EPS for the current fiscal year.

Insider Buying and Selling at Skyline Champion

In other news, EVP Joseph A. Kimmell sold 4,335 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $104.21, for a total value of $451,750.35. Following the transaction, the executive vice president now directly owns 39,411 shares of the company’s stock, valued at approximately $4,107,020.31. This trade represents a 9.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Timothy A. Burkhardt sold 3,823 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $106.87, for a total transaction of $408,564.01. Following the sale, the vice president now directly owns 32,706 shares of the company’s stock, valued at approximately $3,495,290.22. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. 6.90% of the stock is currently 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.