Algert Global LLC Boosts Stake in Skyline Champion Co. (NYSE:SKY)

Algert Global LLC lifted its position in Skyline Champion Co. (NYSE:SKY - Free Report) by 164.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,590 shares of the company's stock after purchasing an additional 9,066 shares during the period. Algert Global LLC's holdings in Skyline Champion were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in SKY. nVerses Capital LLC purchased a new stake in Skyline Champion in the 3rd quarter worth $76,000. Kessler Investment Group LLC lifted its stake in 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 buying an additional 647 shares in the last quarter. CWM LLC boosted its holdings in Skyline Champion by 7.4% in the 3rd quarter. CWM LLC now owns 2,286 shares of the company's stock worth $217,000 after buying an additional 158 shares during the last quarter. OLD National Bancorp IN acquired a new position in shares of Skyline Champion during the third quarter valued at approximately $225,000. Finally, Net Worth Advisory Group acquired a new stake in shares of Skyline Champion in the third quarter worth approximately $272,000.

Skyline Champion Stock Performance

Shares of NYSE SKY remained flat at $103.73 during mid-day trading on Friday. The stock had a trading volume of 238,249 shares, compared to its average volume of 362,166. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 40.05 and a beta of 1.59. Skyline Champion Co. has a fifty-two week low of $59.78 and a fifty-two week high of $107.26. The stock's 50-day moving average is $95.27 and its 200-day moving average is $84.50. 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 announced its quarterly earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.32. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The business had revenue of $616.88 million during the quarter, compared to analysts' expectations of $600.52 million. During the same period last year, the business earned $0.82 earnings per share. The business's revenue for the quarter was up 32.9% on a year-over-year basis. As a group, equities analysts predict that Skyline Champion Co. will post 3.43 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mak Capital One Llc sold 40,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the completion of the sale, the director now owns 2,716,500 shares in the company, valued at $241,415,355. This represents a 1.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SKY. Royal Bank of Canada raised their price objective on Skyline Champion from $82.00 to $88.00 and gave the company a "sector perform" rating in a report on Wednesday, October 30th. Jefferies Financial Group upped 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, October 9th. Wedbush restated a "neutral" rating and set a $64.00 target price on shares of Skyline Champion in a report on Wednesday, August 7th. Barclays increased their price target on Skyline Champion from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Finally, StockNews.com raised Skyline Champion from a "sell" rating to a "hold" rating in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $85.40.

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.