Millennium Management LLC Raises Stock Position in Skyline Champion Co. (NYSE:SKY)

Millennium Management LLC grew its holdings in Skyline Champion Co. (NYSE:SKY) by 75.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,370 shares of the company’s stock after buying an additional 33,794 shares during the period. Millennium Management LLC owned approximately 0.14% of Skyline Champion worth $5,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Skyline Champion by 0.8% during the 4th quarter. Wellington Management Group LLP now owns 8,047,679 shares of the company’s stock worth $597,621,000 after purchasing an additional 62,748 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Skyline Champion by 2.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,642,123 shares of the company’s stock worth $179,004,000 after purchasing an additional 53,965 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Skyline Champion by 0.3% during the 2nd quarter. William Blair Investment Management LLC now owns 1,197,889 shares of the company’s stock worth $81,157,000 after purchasing an additional 3,313 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Skyline Champion by 4.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock worth $57,206,000 after purchasing an additional 35,880 shares during the period. Finally, Burgundy Asset Management Ltd. lifted its holdings in Skyline Champion by 3.3% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 768,346 shares of the company’s stock valued at $52,055,000 after buying an additional 24,353 shares in the last quarter.

Skyline Champion Stock Up 1.0 %

NYSE:SKY opened at $93.91 on Friday. The firm has a market capitalization of $5.41 billion, a P/E ratio of 38.49 and a beta of 1.57. Skyline Champion Co. has a 1-year low of $52.12 and a 1-year high of $97.22. The company’s fifty day moving average price is $90.31 and its 200-day moving average price is $80.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.33 and a quick ratio of 1.57.

Skyline Champion (NYSE:SKY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The firm had revenue of $627.80 million for the quarter, compared to analyst estimates of $600.39 million. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. As a group, equities research analysts anticipate that Skyline Champion Co. will post 3.01 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SKY shares. Jefferies Financial Group lifted their price objective on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a research report on Wednesday, August 7th. Barclays upped their price target on shares of Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Royal Bank of Canada upped their price target on shares of Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Skyline Champion has a consensus rating of “Hold” and an average price target of $80.20.

Insider Activity at Skyline Champion

In related news, insider Timothy Mark Larson sold 5,500 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $83.00, for a total transaction of $456,500.00. Following the sale, the insider now owns 43,300 shares in the company, valued at approximately $3,593,900. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Skyline Champion news, insider Timothy Mark Larson sold 5,500 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $83.00, for a total transaction of $456,500.00. Following the transaction, the insider now directly owns 43,300 shares of the company’s stock, valued at $3,593,900. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael B. Berman sold 3,496 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $82.34, for a total transaction of $287,860.64. Following the transaction, the director now directly owns 8,099 shares in the company, valued at approximately $666,871.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 163,636 shares of company stock worth $14,582,253. 6.90% of the stock is owned by company 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.