MQS Management LLC Acquires Shares of 3,450 Skyline Champion Co. (NYSE:SKY)

MQS Management LLC bought a new position in shares of Skyline Champion Co. (NYSE:SKY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,450 shares of the company’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also modified their holdings of SKY. First Eagle Investment Management LLC lifted its position in Skyline Champion by 24.8% during the second quarter. First Eagle Investment Management LLC now owns 106,555 shares of the company’s stock worth $7,219,000 after acquiring an additional 21,200 shares during the last quarter. Seven Eight Capital LP lifted its holdings in Skyline Champion by 154.4% during the 2nd quarter. Seven Eight Capital LP now owns 21,783 shares of the company’s stock worth $1,476,000 after purchasing an additional 13,220 shares during the last quarter. Virtu Financial LLC bought a new stake in Skyline Champion in the 2nd quarter valued at $923,000. Envestnet Asset Management Inc. grew its holdings in Skyline Champion by 2.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 27,345 shares of the company’s stock valued at $1,853,000 after buying an additional 737 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its position in Skyline Champion by 30.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,067 shares of the company’s stock worth $547,000 after buying an additional 1,885 shares during the period.

Analyst Upgrades and Downgrades

SKY has been the topic of several research reports. 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 increased their target price on shares of Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Wedbush reiterated a “neutral” rating and issued a $64.00 price target on shares of Skyline Champion in a research report on Wednesday, August 7th. Finally, StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Four 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 stock presently has an average rating of “Hold” and an average price target of $78.75.

Skyline Champion Stock Performance

Shares of Skyline Champion stock opened at $92.81 on Friday. 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 company has a market cap of $5.37 billion, a PE ratio of 36.54 and a beta of 1.58. The company has a 50 day moving average of $85.61 and a 200-day moving average of $79.21. Skyline Champion Co. has a 1-year low of $52.12 and a 1-year high of $97.22.

Skyline Champion (NYSE:SKY) last issued its earnings results on Tuesday, August 6th. The company reported $0.91 earnings per share for the quarter, beating 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 firm had revenue of $627.80 million for the quarter, compared to the consensus estimate of $600.39 million. During the same quarter last year, the business posted $0.89 EPS. The company’s revenue was up 35.1% compared to the same quarter last year. As a group, equities research analysts forecast that Skyline Champion Co. will post 3.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael B. Berman sold 3,496 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $82.34, for a total value of $287,860.64. Following the sale, the director now directly owns 8,099 shares in the company, valued at approximately $666,871.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Michael B. Berman sold 3,496 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 8,099 shares in the company, valued at approximately $666,871.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Timothy Mark Larson sold 5,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 43,300 shares in the company, valued at approximately $3,593,900. 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 corporate insiders.

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.