Maryland State Retirement & Pension System Makes New $1.57 Million Investment in Skyline Champion Co. (NYSE:SKY)

Maryland State Retirement & Pension System purchased a new position in Skyline Champion Co. (NYSE:SKY - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,785 shares of the company's stock, valued at approximately $1,567,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SKY. JPMorgan Chase & Co. boosted its stake in shares of Skyline Champion by 137.5% in the third quarter. JPMorgan Chase & Co. now owns 127,307 shares of the company's stock worth $12,075,000 after acquiring an additional 73,697 shares during the period. Summit Partners Public Asset Management LLC raised its position in shares of Skyline Champion by 23.3% during the third quarter. Summit Partners Public Asset Management LLC now owns 404,673 shares of the company's stock valued at $38,383,000 after buying an additional 76,573 shares during the last quarter. Algert Global LLC lifted its holdings in shares of Skyline Champion by 164.1% in the third quarter. Algert Global LLC now owns 14,590 shares of the company's stock worth $1,384,000 after buying an additional 9,066 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Skyline Champion by 80.7% during the fourth quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company's stock worth $30,928,000 after acquiring an additional 156,757 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Skyline Champion by 26.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 119,154 shares of the company's stock valued at $10,497,000 after acquiring an additional 24,781 shares in the last quarter.

Remove Ads

Insider Buying and Selling at Skyline Champion

In other news, EVP Joseph A. Kimmell sold 4,335 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $104.21, for a total transaction of $451,750.35. Following the transaction, the executive vice president now owns 39,411 shares of the company's stock, valued at approximately $4,107,020.31. This represents a 9.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Timothy A. Burkhardt sold 3,823 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $106.87, for a total value of $408,564.01. Following the sale, the vice president now directly owns 32,706 shares of the company's stock, valued at $3,495,290.22. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.90% of the company's stock.

Analyst Ratings Changes

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

Skyline Champion Trading Down 0.6 %

SKY traded down $0.62 on Wednesday, hitting $97.26. The company had a trading volume of 258,869 shares, compared to its average volume of 583,835. The business's fifty day simple moving average is $97.42 and its 200 day simple moving average is $95.84. The company has a quick ratio of 1.74, a current ratio of 2.59 and a debt-to-equity ratio of 0.02. Skyline Champion Co. has a 12-month low of $64.82 and a 12-month high of $116.49. The company has a market cap of $5.57 billion, a PE ratio of 34.24 and a beta of 1.61.

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

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.