Gabelli Funds LLC Lowers Stock Position in Skyline Champion Co. (NYSE:SKY)

Gabelli Funds LLC trimmed its holdings in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 4.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 136,600 shares of the company's stock after selling 6,000 shares during the period. Gabelli Funds LLC owned approximately 0.24% of Skyline Champion worth $12,034,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Skyline Champion by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock valued at $523,578,000 after purchasing an additional 876,712 shares in the last quarter. Norges Bank acquired a new position in Skyline Champion during the 4th quarter valued at about $69,346,000. Principal Financial Group Inc. lifted its holdings in shares of Skyline Champion by 5,843.2% in the fourth quarter. Principal Financial Group Inc. now owns 256,924 shares of the company's stock valued at $22,635,000 after purchasing an additional 252,601 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in 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 buying an additional 156,757 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Skyline Champion by 120.3% during the 4th quarter. JPMorgan Chase & Co. now owns 280,396 shares of the company's stock valued at $24,703,000 after acquiring an additional 153,089 shares in the last quarter.

Skyline Champion Stock Performance

SKY traded up $1.92 during trading hours on Tuesday, hitting $81.22. The stock had a trading volume of 44,237 shares, compared to its average volume of 529,140. The company has a quick ratio of 1.74, a current ratio of 2.59 and a debt-to-equity ratio of 0.02. The stock has a market cap of $4.65 billion, a PE ratio of 28.62 and a beta of 1.41. Skyline Champion Co. has a 1 year low of $64.82 and a 1 year high of $116.49. The company's fifty day simple moving average is $93.79 and its 200 day simple moving average is $94.87.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays dropped their target price on shares of Skyline Champion from $106.00 to $97.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada lifted their target price on Skyline Champion from $88.00 to $96.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Five 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.com, Skyline Champion currently has an average rating of "Hold" and a consensus target price of $88.40.

Insider Transactions at Skyline Champion

In other Skyline Champion news, VP Timothy A. Burkhardt sold 3,823 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $106.87, for a total transaction of $408,564.01. Following the completion of the sale, the vice president now owns 32,706 shares of the company's stock, valued at $3,495,290.22. This represents a 10.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph A. Kimmell sold 4,335 shares of the 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 sale, 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 disclosure for this sale can be found here. Insiders own 6.90% of the company's stock.

Skyline Champion Company 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.