Renaissance Technologies LLC Reduces Stock Position in Skyline Champion Co. (NYSE:SKY)

Renaissance Technologies LLC reduced its stake in Skyline Champion Co. (NYSE:SKY) by 45.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the company’s stock after selling 8,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Skyline Champion were worth $678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Argent Capital Management LLC boosted its holdings in Skyline Champion by 11.0% in the 4th quarter. Argent Capital Management LLC now owns 8,459 shares of the company’s stock valued at $628,000 after purchasing an additional 836 shares during the last quarter. Chilton Investment Co. Inc. raised its position in shares of Skyline Champion by 7.0% during the 4th quarter. Chilton Investment Co. Inc. now owns 189,697 shares of the company’s stock valued at $14,087,000 after buying an additional 12,491 shares during the period. Virtu Financial LLC lifted its holdings in Skyline Champion by 16.1% in the fourth quarter. Virtu Financial LLC now owns 4,805 shares of the company’s stock valued at $357,000 after acquiring an additional 667 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Skyline Champion by 9.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 225,410 shares of the company’s stock worth $16,739,000 after acquiring an additional 19,438 shares during the period. Finally, Congress Asset Management Co. MA increased its stake in Skyline Champion by 14.6% during the fourth quarter. Congress Asset Management Co. MA now owns 497,594 shares of the company’s stock worth $36,951,000 after acquiring an additional 63,578 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SKY. Wedbush reiterated a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a report on Wednesday, August 7th. Royal Bank of Canada lifted their price target on shares of Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Barclays increased their price objective on shares of Skyline Champion from $68.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $78.75.

Skyline Champion Trading Up 1.3 %

NYSE SKY opened at $94.37 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.57 and a current ratio of 2.33. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 36.95 and a beta of 1.57. The firm has a 50 day simple moving average of $89.15 and a 200-day simple moving average of $80.02. Skyline Champion Co. has a one year low of $52.12 and a one year high of $97.22.

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

Insiders Place Their Bets

In related news, Director Erin Mulligan Nelson sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $83.18, for a total value of $83,180.00. Following the sale, the director now owns 5,170 shares of the company’s stock, valued at $430,040.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Skyline Champion news, Director Erin Mulligan Nelson sold 1,000 shares of the firm’s stock in a transaction on 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 directly owns 5,170 shares in the company, valued at $430,040.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Laurie M. Hough sold 5,354 shares of the company’s 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 transaction, the chief financial officer now directly owns 105,153 shares of the company’s stock, valued at approximately $9,320,761.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,636 shares of company stock worth $14,582,253 in the last quarter. 6.90% of the stock is 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.