State of New Jersey Common Pension Fund D Sells 6,994 Shares of Skyline Champion Co. (NYSE:SKY)

State of New Jersey Common Pension Fund D cut its holdings in Skyline Champion Co. (NYSE:SKY) by 20.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,842 shares of the company’s stock after selling 6,994 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Skyline Champion were worth $1,819,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC raised its stake in shares of Skyline Champion by 413.0% during the second quarter. Headlands Technologies LLC now owns 3,776 shares of the company’s stock valued at $256,000 after acquiring an additional 3,040 shares during the last quarter. Quest Partners LLC bought a new position in Skyline Champion during the 2nd quarter valued at approximately $372,000. Arizona State Retirement System lifted its holdings in Skyline Champion by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 15,359 shares of the company’s stock worth $1,041,000 after buying an additional 324 shares during the period. Victory Capital Management Inc. grew its position in shares of Skyline Champion by 46.0% in the 2nd quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock worth $45,385,000 after buying an additional 211,099 shares during the last quarter. Finally, Cannon Global Investment Management LLC purchased a new position in shares of Skyline Champion during the second quarter valued at approximately $217,000.

Skyline Champion Stock Performance

Shares of Skyline Champion stock opened at $92.55 on Tuesday. The company has a current ratio of 2.33, a quick ratio of 1.57 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $5.35 billion, a P/E ratio of 36.44 and a beta of 1.58. The business has a fifty day simple moving average of $85.61 and a two-hundred day simple moving average of $79.16. Skyline Champion Co. has a 12 month low of $52.12 and a 12 month high of $97.22.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.69 by $0.22. The business had revenue of $627.80 million during the quarter, compared to analyst estimates of $600.39 million. Skyline Champion had a return on equity of 13.07% and a net margin of 6.45%. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. On average, equities analysts forecast that Skyline Champion Co. will post 3.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on SKY shares. Barclays raised their price target on Skyline Champion from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Wedbush reaffirmed a “neutral” rating and issued a $64.00 price target on shares of Skyline Champion in a research note on Wednesday, August 7th. Royal Bank of Canada raised their price target on Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Finally, StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Four equities 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, the company presently has an average rating of “Hold” and a consensus price target of $78.75.

Insider Buying and Selling at Skyline Champion

In other news, CFO Laurie M. Hough sold 5,354 shares of Skyline Champion stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $88.64, for a total value of $474,578.56. Following the completion of the transaction, the chief financial officer now owns 105,153 shares of the company’s stock, valued at approximately $9,320,761.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Laurie M. Hough sold 5,354 shares of Skyline Champion stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $88.64, for a total value of $474,578.56. Following the completion of the transaction, the chief financial officer now owns 105,153 shares of the company’s stock, valued at approximately $9,320,761.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael B. Berman sold 3,496 shares of Skyline Champion stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $82.34, for a total value of $287,860.64. Following the completion of the transaction, the director now directly owns 8,099 shares of the company’s stock, valued at approximately $666,871.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,636 shares of company stock valued at $14,582,253. 6.90% of the stock is currently 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.