First Eagle Investment Management LLC Cuts Stock Holdings in Skyline Champion Co. (NYSE:SKY)

First Eagle Investment Management LLC cut its position in Skyline Champion Co. (NYSE:SKY - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,338 shares of the company's stock after selling 26,500 shares during the period. First Eagle Investment Management LLC owned about 0.16% of Skyline Champion worth $8,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. PFG Advisors increased its stake in shares of Skyline Champion by 13.1% in the fourth quarter. PFG Advisors now owns 6,509 shares of the company's stock worth $573,000 after purchasing an additional 752 shares in the last quarter. HighTower Advisors LLC grew its stake in Skyline Champion by 3.7% during the fourth quarter. HighTower Advisors LLC now owns 5,019 shares of the company's stock valued at $442,000 after acquiring an additional 180 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Skyline Champion by 3.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,745 shares of the company's stock valued at $506,000 after acquiring an additional 213 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in Skyline Champion by 16.2% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 5,160 shares of the company's stock valued at $455,000 after acquiring an additional 719 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Skyline Champion during the fourth quarter valued at $6,453,000.

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Skyline Champion Trading Up 4.9 %

Shares of Skyline Champion stock traded up $4.48 during trading on Wednesday, hitting $95.54. The stock had a trading volume of 415,936 shares, compared to its average volume of 484,986. The firm's fifty day simple moving average is $96.57 and its 200-day simple moving average is $95.64. The stock has a market cap of $5.47 billion, a PE ratio of 33.64 and a beta of 1.61. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74. Skyline Champion Co. has a 12 month low of $64.82 and a 12 month high of $116.49.

Skyline Champion (NYSE:SKY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.80 by $0.24. Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. As a group, sell-side analysts expect that Skyline Champion Co. will post 3.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SKY has been the subject of several research analyst reports. Barclays raised their target price on shares of Skyline Champion from $90.00 to $106.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their price objective on shares of Skyline Champion from $88.00 to $96.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $90.20.

Insider Buying and Selling

In related news, VP Timothy A. Burkhardt sold 3,823 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $106.87, for a total value of $408,564.01. Following the transaction, the vice president now owns 32,706 shares of the company's stock, valued at $3,495,290.22. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph A. Kimmell sold 4,335 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $104.21, for a total transaction of $451,750.35. Following the completion of the transaction, the executive vice president now directly owns 39,411 shares in the company, valued at $4,107,020.31. This represents a 9.91 % decrease in their position. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by 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.