Citigroup Inc. Purchases 30,892 Shares of Skyline Champion Co. (NYSE:SKY)

Citigroup Inc. boosted its position in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 63.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,668 shares of the company's stock after purchasing an additional 30,892 shares during the period. Citigroup Inc. owned about 0.14% of Skyline Champion worth $7,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC acquired a new position in Skyline Champion during the third quarter worth $76,000. Kessler Investment Group LLC grew its holdings in shares of Skyline Champion by 41.0% in the 2nd quarter. Kessler Investment Group LLC now owns 2,225 shares of the company's stock valued at $151,000 after acquiring an additional 647 shares in the last quarter. Blue Trust Inc. increased its position in shares of Skyline Champion by 77,800.0% in the second quarter. Blue Trust Inc. now owns 3,116 shares of the company's stock valued at $211,000 after acquiring an additional 3,112 shares during the last quarter. Cannon Global Investment Management LLC bought a new stake in Skyline Champion during the second quarter worth about $217,000. Finally, CWM LLC boosted its position in Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company's stock valued at $217,000 after purchasing an additional 158 shares during the last quarter.

Analysts Set New Price Targets

SKY has been the topic of several recent analyst reports. Jefferies Financial Group boosted their price target on Skyline Champion from $79.00 to $86.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. StockNews.com raised shares of Skyline Champion from a "sell" rating to a "hold" rating in a research report on Thursday, August 8th. Royal Bank of Canada lifted their price objective on shares of Skyline Champion from $82.00 to $88.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 30th. Craig Hallum upped their target price on shares of Skyline Champion from $92.00 to $99.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Barclays lifted their price target on Skyline Champion from $85.00 to $90.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $85.40.

Skyline Champion Price Performance

Shares of NYSE SKY remained flat at $103.73 during mid-day trading on Friday. 238,251 shares of the stock were exchanged, compared to its average volume of 406,205. Skyline Champion Co. has a one year low of $59.78 and a one year high of $107.26. The company has a market capitalization of $5.95 billion, a PE ratio of 40.05 and a beta of 1.59. The firm's fifty day moving average is $95.27 and its 200-day moving average is $84.55. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64.

Skyline Champion (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.32. The company had revenue of $616.88 million during the quarter, compared to analysts' expectations of $600.52 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The business's revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 earnings per share. As a group, equities research analysts expect that Skyline Champion Co. will post 3.43 EPS for the current year.

Insiders Place Their Bets

In related news, Director Mak Capital One Llc sold 40,000 shares of the stock in a transaction that occurred on 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 owns 2,716,500 shares of the company's stock, valued at $241,415,355. This represents a 1.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.90% of the company's stock.

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.