Portolan Capital Management LLC Reduces Stock Holdings in Skyline Champion Co. (NYSE:SKY)

Portolan Capital Management LLC cut its holdings in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 73.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,996 shares of the company's stock after selling 25,013 shares during the quarter. Portolan Capital Management LLC's holdings in Skyline Champion were worth $793,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new position in Skyline Champion in the fourth quarter valued at about $36,000. Sterling Capital Management LLC lifted its stake in Skyline Champion by 645.5% in the fourth quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock valued at $81,000 after purchasing an additional 794 shares during the last quarter. Headlands Technologies LLC bought a new position in Skyline Champion during the fourth quarter valued at $108,000. Venturi Wealth Management LLC bought a new position in shares of Skyline Champion during the 4th quarter worth $112,000. Finally, New Age Alpha Advisors LLC bought a new position in Skyline Champion during the fourth quarter worth about $176,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Barclays cut their price target on Skyline Champion from $106.00 to $97.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada boosted their price target 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $88.40.

Insiders Place Their Bets

In other news, VP Timothy A. Burkhardt sold 3,823 shares of the business's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $106.87, for a total value 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 approximately $3,495,290.22. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph A. Kimmell sold 4,335 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $104.21, for a total value of $451,750.35. Following the sale, the executive vice president now owns 39,411 shares of the company's stock, valued at $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 Price Performance

Shares of NYSE SKY traded up $1.42 during mid-day trading on Friday, reaching $81.93. 346,217 shares of the company were exchanged, compared to its average volume of 531,688. The stock has a market capitalization of $4.69 billion, a PE ratio of 28.85 and a beta of 1.41. 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 52 week low of $64.82 and a 52 week high of $116.49. The company's 50 day moving average price is $94.31 and its 200 day moving average price is $94.98.

Skyline Champion (NYSE:SKY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.04 earnings per share (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%. Sell-side analysts forecast that Skyline Champion Co. will post 3.63 earnings per share for the current fiscal year.

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.