Skyline Champion Co. (NYSE:SKY) Holdings Increased by Meritage Portfolio Management

Meritage Portfolio Management increased its position in shares of Skyline Champion Co. (NYSE:SKY) by 11.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,270 shares of the company’s stock after acquiring an additional 525 shares during the quarter. Meritage Portfolio Management’s holdings in Skyline Champion were worth $500,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in shares of Skyline Champion by 2.1% in the 2nd 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 in the last quarter. William Blair Investment Management LLC lifted its position in Skyline Champion by 0.3% in the 2nd quarter. William Blair Investment Management LLC now owns 1,197,889 shares of the company’s stock valued at $81,157,000 after acquiring an additional 3,313 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Skyline Champion by 4.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock valued at $57,206,000 after purchasing an additional 35,880 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings in Skyline Champion by 3.3% during the second quarter. Burgundy Asset Management Ltd. now owns 768,346 shares of the company’s stock worth $52,055,000 after buying an additional 24,353 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Skyline Champion by 46.0% during the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock worth $45,385,000 after purchasing an additional 211,099 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SKY. Barclays raised their price target on Skyline Champion from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. 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. Craig Hallum boosted their price target on shares of Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Finally, 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 report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Skyline Champion has an average rating of “Hold” and a consensus target price of $85.40.

Insider Activity

In related news, VP Timothy A. Burkhardt sold 2,874 shares of the firm’s 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 transaction, the vice president now owns 38,792 shares of the company’s stock, valued at $3,468,780.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Skyline Champion news, Director Mak Capital One Llc sold 80,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $90.16, for a total value of $7,212,800.00. Following the completion of the sale, the director now owns 2,920,000 shares of the company’s stock, valued at $263,267,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,640 shares of company stock worth $13,754,712. 6.90% of the stock is currently owned by corporate insiders.

Skyline Champion Stock Up 0.2 %

SKY stock opened at $97.06 on Tuesday. Skyline Champion Co. has a 52 week low of $54.85 and a 52 week high of $101.39. The firm has a 50 day moving average of $92.75 and a 200 day moving average of $82.43. 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 has a market capitalization of $5.57 billion, a PE ratio of 37.47 and a beta of 1.59.

Skyline Champion (NYSE:SKY) last issued its 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. The business had revenue of $616.88 million during the quarter, compared to the consensus estimate of $600.52 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. Sell-side analysts forecast that Skyline Champion Co. will post 3.33 earnings per share for the current 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.