Algert Global LLC Invests $374,000 in Skyline Champion Co. (NYSE:SKY)

Algert Global LLC purchased a new position in Skyline Champion Co. (NYSE:SKY) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 5,524 shares of the company’s stock, valued at approximately $374,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scientech Research LLC acquired a new stake in Skyline Champion in the second quarter valued at approximately $539,000. The Manufacturers Life Insurance Company raised its holdings in shares of Skyline Champion by 3.4% during the second quarter. The Manufacturers Life Insurance Company now owns 32,642 shares of the company’s stock valued at $2,211,000 after buying an additional 1,064 shares during the last quarter. Millennium Management LLC boosted its position in Skyline Champion by 75.8% during the 2nd quarter. Millennium Management LLC now owns 78,370 shares of the company’s stock worth $5,310,000 after acquiring an additional 33,794 shares during the period. Dark Forest Capital Management LP increased its stake in Skyline Champion by 164.5% during the 2nd quarter. Dark Forest Capital Management LP now owns 7,402 shares of the company’s stock valued at $501,000 after buying an additional 4,603 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Skyline Champion during the second quarter worth approximately $327,000.

Skyline Champion Stock Performance

SKY stock opened at $93.15 on Tuesday. Skyline Champion Co. has a 1-year low of $52.12 and a 1-year high of $97.22. 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 cap of $5.39 billion, a PE ratio of 36.56 and a beta of 1.57. The business’s 50-day moving average price is $88.93 and its two-hundred day moving average price is $79.97.

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

Insiders Place Their Bets

In other news, Director Mak Capital One Llc sold 40,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the sale, the director now directly owns 2,716,500 shares in the company, valued at approximately $241,415,355. The trade was 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 the SEC website. In related news, CFO Laurie M. Hough sold 5,354 shares of Skyline Champion stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $88.64, for a total transaction of $474,578.56. Following the transaction, the chief financial officer now owns 105,153 shares of the company’s stock, valued at $9,320,761.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 Skyline Champion stock in a transaction dated Friday, September 6th. The stock was 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 directly owns 2,716,500 shares in the company, valued at approximately $241,415,355. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,636 shares of company stock worth $14,582,253 over the last three months. Insiders own 6.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SKY. Royal Bank of Canada increased their price objective on Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Wedbush reissued a “neutral” rating and set a $64.00 price objective on shares of Skyline Champion in a research report on Wednesday, August 7th. Barclays lifted their price objective 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. Finally, StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. 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 data from MarketBeat.com, Skyline Champion has an average rating of “Hold” and an average price target of $78.75.

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.