Wasatch Advisors LP Sells 110,011 Shares of Skyline Champion Co. (NYSE:SKY)

Wasatch Advisors LP cut its position in shares of Skyline Champion Co. (NYSE:SKY) by 7.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,426,963 shares of the company’s stock after selling 110,011 shares during the quarter. Wasatch Advisors LP owned 2.47% of Skyline Champion worth $121,306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SummerHaven Investment Management LLC grew its stake in shares of Skyline Champion by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 10,909 shares of the company’s stock worth $810,000 after acquiring an additional 150 shares in the last quarter. SkyView Investment Advisors LLC grew its position in Skyline Champion by 3.3% in the third quarter. SkyView Investment Advisors LLC now owns 5,385 shares of the company’s stock valued at $343,000 after purchasing an additional 171 shares in the last quarter. Meritage Portfolio Management increased its stake in Skyline Champion by 5.4% in the 4th quarter. Meritage Portfolio Management now owns 5,223 shares of the company’s stock valued at $388,000 after buying an additional 269 shares during the last quarter. Kingfisher Capital LLC lifted its position in Skyline Champion by 0.6% during the 3rd quarter. Kingfisher Capital LLC now owns 44,755 shares of the company’s stock worth $2,852,000 after buying an additional 282 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of Skyline Champion by 16.1% during the 4th quarter. Virtu Financial LLC now owns 4,805 shares of the company’s stock worth $357,000 after buying an additional 667 shares during the last quarter.

Analyst Ratings Changes

Several analysts recently issued reports on SKY shares. Craig Hallum dropped their target price on Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Wedbush reiterated a “neutral” rating and issued a $72.00 price target on shares of Skyline Champion in a research note on Wednesday, May 22nd. Barclays lowered their price objective on shares of Skyline Champion from $76.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 29th. Royal Bank of Canada cut their target price on shares of Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating for the company in a research note on Thursday, May 23rd. Finally, StockNews.com downgraded Skyline Champion from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.80.

Insider Transactions at Skyline Champion

In related news, insider Timothy Mark Larson sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $71.98, for a total transaction of $251,930.00. Following the transaction, the insider now directly owns 48,800 shares of the company’s stock, valued at $3,512,624. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Skyline Champion news, EVP Joseph A. Kimmell sold 10,042 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $70.12, for a total transaction of $704,145.04. Following the sale, the executive vice president now directly owns 47,262 shares in the company, valued at $3,314,011.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy Mark Larson sold 3,500 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $71.98, for a total transaction of $251,930.00. Following the sale, the insider now owns 48,800 shares in the company, valued at approximately $3,512,624. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Skyline Champion Stock Performance

Shares of SKY stock traded up $0.40 during midday trading on Tuesday, hitting $66.00. 549,175 shares of the company were exchanged, compared to its average volume of 313,173. The firm has a market capitalization of $3.82 billion, a P/E ratio of 25.98 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.54 and a current ratio of 2.36. Skyline Champion Co. has a 52 week low of $52.12 and a 52 week high of $86.71. The firm’s 50 day moving average price is $73.20 and its two-hundred day moving average price is $75.75.

Skyline Champion (NYSE:SKY) last posted its earnings results on Tuesday, May 21st. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $536.36 million during the quarter, compared to analyst estimates of $560.90 million. Skyline Champion had a net margin of 7.24% and a return on equity of 13.32%. Skyline Champion’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 EPS. As a group, equities research analysts anticipate that Skyline Champion Co. will post 2.76 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.