Vanguard Group Inc. Sells 382,535 Shares of Skyline Champion Co. (NYSE:SKY)

Vanguard Group Inc. reduced its position in shares of Skyline Champion Co. (NYSE:SKY) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,362,275 shares of the company’s stock after selling 382,535 shares during the period. Vanguard Group Inc. owned 9.29% of Skyline Champion worth $398,203,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SKY. Kessler Investment Group LLC bought a new stake in Skyline Champion in the fourth quarter worth about $123,000. Vestmark Advisory Solutions Inc. bought a new stake in Skyline Champion in the fourth quarter worth about $219,000. Outlook Wealth Advisors LLC bought a new stake in Skyline Champion in the fourth quarter worth about $231,000. Mackenzie Financial Corp bought a new stake in Skyline Champion in the fourth quarter worth about $246,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Skyline Champion in the third quarter worth about $216,000.

Skyline Champion Price Performance

Shares of NYSE:SKY opened at $67.43 on Friday. The company has a 50 day moving average of $73.76 and a 200 day moving average of $75.72. The stock has a market cap of $3.90 billion, a P/E ratio of 26.55 and a beta of 1.60. Skyline Champion Co. has a 12 month low of $52.12 and a 12 month high of $86.71. The company has a current ratio of 2.36, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings results on Tuesday, May 21st. The company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $536.36 million for the quarter, compared to analysts’ expectations of $560.90 million. Skyline Champion had a net margin of 7.24% and a return on equity of 13.32%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. As a group, sell-side analysts forecast that Skyline Champion Co. will post 2.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on SKY shares. 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 report on Wednesday, May 29th. Wedbush reissued a “neutral” rating and issued a $72.00 price target on shares of Skyline Champion in a research report on Wednesday, May 22nd. Craig Hallum lowered their price target on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. StockNews.com lowered shares of Skyline Champion from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada lowered their price target on shares of Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.80.

Insiders Place Their Bets

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

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.