Millennium Management LLC Boosts Position in Skyline Champion Co. (NYSE:SKY)

Millennium Management LLC increased its holdings in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 75.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 78,370 shares of the company's stock after acquiring an additional 33,794 shares during the period. Millennium Management LLC owned about 0.14% of Skyline Champion worth $5,310,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SKY. Dark Forest Capital Management LP boosted its stake in Skyline Champion by 164.5% in the 2nd quarter. Dark Forest Capital Management LP now owns 7,402 shares of the company's stock worth $501,000 after purchasing an additional 4,603 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Skyline Champion during the second quarter valued at $327,000. Marshall Wace LLP acquired a new position in shares of Skyline Champion in the 2nd quarter valued at $1,253,000. Thrivent Financial for Lutherans raised its stake in Skyline Champion by 2.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,642,123 shares of the company's stock worth $179,004,000 after acquiring an additional 53,965 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Skyline Champion by 0.5% during the 2nd quarter. Sei Investments Co. now owns 184,755 shares of the company's stock worth $12,517,000 after acquiring an additional 955 shares during the period.

Skyline Champion Price Performance

Shares of SKY traded up $0.95 during trading hours on Friday, hitting $93.91. 216,324 shares of the stock were exchanged, compared to its average volume of 354,268. The stock's 50-day moving average price is $90.31 and its two-hundred day moving average price is $80.35. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 38.49 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.57 and a current ratio of 2.33. Skyline Champion Co. has a 12-month low of $52.12 and a 12-month high of $97.22.

Skyline Champion (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.22. Skyline Champion had a return on equity of 13.07% and a net margin of 6.45%. The company had revenue of $627.80 million during the quarter, compared to analyst estimates of $600.39 million. During the same period in the prior year, the business posted $0.89 earnings per share. The firm's revenue for the quarter was up 35.1% compared to the same quarter last year. Research analysts expect that Skyline Champion Co. will post 3.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SKY shares. Barclays raised their price objective on Skyline Champion from $68.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, August 12th. Jefferies Financial Group lifted their price objective on shares of Skyline Champion from $79.00 to $86.00 and gave the company a "hold" rating in a research note on Wednesday. Royal Bank of Canada increased their price objective on shares of Skyline Champion from $68.00 to $82.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 8th. Wedbush restated a "neutral" rating and set a $64.00 target price on shares of Skyline Champion in a research report on Wednesday, August 7th. Finally, StockNews.com raised Skyline Champion from a "sell" rating to a "hold" rating in a research report on Thursday, August 8th. Five equities research 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, Skyline Champion currently has an average rating of "Hold" and a consensus price target of $80.20.

Insider Buying and Selling

In related news, Director Erin Mulligan Nelson sold 1,000 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 5,170 shares in the company, valued at $430,040.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Skyline Champion news, Director Michael B. Berman sold 3,496 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $82.34, for a total value of $287,860.64. Following the transaction, the director now directly owns 8,099 shares of the company's stock, valued at approximately $666,871.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $83,180.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 163,636 shares of company stock worth $14,582,253 in the last ninety days. 6.90% of the stock is owned by corporate 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.