First Eagle Investment Management LLC Grows Stock Holdings in Skyline Champion Co. (NYSE:SKY)

First Eagle Investment Management LLC boosted its stake in shares of Skyline Champion Co. (NYSE:SKY) by 24.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,555 shares of the company’s stock after acquiring an additional 21,200 shares during the quarter. First Eagle Investment Management LLC owned about 0.18% of Skyline Champion worth $7,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Seven Eight Capital LP boosted its holdings in shares of Skyline Champion by 154.4% in the second quarter. Seven Eight Capital LP now owns 21,783 shares of the company’s stock valued at $1,476,000 after acquiring an additional 13,220 shares in the last quarter. Virtu Financial LLC acquired a new stake in Skyline Champion in the second quarter valued at $923,000. Envestnet Asset Management Inc. grew its stake in shares of Skyline Champion by 2.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 27,345 shares of the company’s stock worth $1,853,000 after purchasing an additional 737 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Skyline Champion by 30.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,067 shares of the company’s stock valued at $547,000 after purchasing an additional 1,885 shares during the period. Finally, William Blair Investment Management LLC increased its holdings in Skyline Champion by 0.3% in the second quarter. William Blair Investment Management LLC now owns 1,197,889 shares of the company’s stock valued at $81,157,000 after buying an additional 3,313 shares in the last quarter.

Skyline Champion Stock Performance

Shares of NYSE SKY opened at $95.65 on Friday. The company has a market capitalization of $5.51 billion, a P/E ratio of 37.66 and a beta of 1.58. The business’s 50-day moving average price is $84.78 and its two-hundred day moving average price is $79.03. Skyline Champion Co. has a one year low of $52.12 and a one year high of $97.22. 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 posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. Skyline Champion had a return on equity of 13.07% and a net margin of 6.45%. The company had revenue of $627.80 million for the quarter, compared to analyst estimates of $600.39 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The business’s revenue was up 35.1% on a year-over-year basis. Analysts anticipate that Skyline Champion Co. will post 3.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mak Capital One Llc sold 40,000 shares of Skyline Champion stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the completion of the sale, the director now owns 2,716,500 shares of the company’s stock, valued at approximately $241,415,355. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Skyline Champion news, Director Erin Mulligan Nelson sold 1,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $83.18, for a total value of $83,180.00. Following the sale, the director now owns 5,170 shares in the company, valued at approximately $430,040.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mak Capital One Llc sold 40,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $88.87, for a total value of $3,554,800.00. Following the sale, the director now owns 2,716,500 shares in the company, valued at approximately $241,415,355. 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. Corporate insiders own 6.90% of the company’s stock.

Analyst Upgrades and Downgrades

SKY has been the subject of a number of research analyst reports. Craig Hallum dropped their price target on Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. Royal Bank of Canada raised their price target on shares of Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Wedbush reaffirmed a “neutral” rating and set a $64.00 price objective on shares of Skyline Champion in a research note on Wednesday, August 7th. Finally, Barclays upped their target price 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. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Skyline Champion currently has a consensus rating of “Hold” and a consensus target price of $78.75.

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.