Van ECK Associates Corp Grows Position in Skyline Champion Co. (NYSE:SKY)

Van ECK Associates Corp lifted its position in Skyline Champion Co. (NYSE:SKY) by 40.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,924 shares of the company’s stock after purchasing an additional 9,408 shares during the quarter. Van ECK Associates Corp’s holdings in Skyline Champion were worth $2,968,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Skyline Champion during the first quarter worth about $63,000. nVerses Capital LLC acquired a new stake in Skyline Champion during the third quarter worth about $76,000. Kessler Investment Group LLC increased its position 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 increased its position 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 acquired a new stake in Skyline Champion during the third quarter worth about $225,000.

Wall Street Analyst Weigh In

SKY has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Craig Hallum lifted their price target on shares of Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Wedbush reiterated a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.40.

Skyline Champion Trading Up 3.4 %

NYSE SKY opened at $96.84 on Friday. The firm has a 50 day simple moving average of $92.68 and a 200-day simple moving average of $82.20. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42. Skyline Champion Co. has a one year low of $53.84 and a one year high of $101.39. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 37.38 and a beta of 1.59.

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

Insider Transactions at Skyline Champion

In other news, VP Timothy A. Burkhardt sold 2,874 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 owns 38,792 shares in the company, valued at approximately $3,468,780.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Skyline Champion news, VP Timothy A. Burkhardt sold 2,874 shares of the business’s stock in a transaction on Monday, August 19th. The shares were 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 of the company’s stock, valued at approximately $3,468,780.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph A. Kimmell sold 2,964 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $88.60, for a total transaction of $262,610.40. Following the transaction, the executive vice president now directly owns 47,262 shares in the company, valued at approximately $4,187,413.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,136 shares of company stock worth $14,042,573. 6.90% of the stock is currently owned by insiders.

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.