Victory Capital Management Inc. Reduces Stock Holdings in Skyline Champion Co. (NYSE:SKY)

Victory Capital Management Inc. cut its holdings in Skyline Champion Co. (NYSE:SKY - Free Report) by 48.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 345,624 shares of the company's stock after selling 324,271 shares during the period. Victory Capital Management Inc. owned approximately 0.60% of Skyline Champion worth $32,782,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SKY. CWM LLC boosted its holdings in shares of Skyline Champion by 7.4% in the 3rd quarter. CWM LLC now owns 2,286 shares of the company's stock valued at $217,000 after purchasing an additional 158 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Skyline Champion by 5.1% during the third quarter. Verdence Capital Advisors LLC now owns 3,514 shares of the company's stock worth $333,000 after purchasing an additional 171 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of Skyline Champion by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 11,262 shares of the company's stock worth $763,000 after purchasing an additional 216 shares during the last quarter. Penbrook Management LLC increased its holdings in Skyline Champion by 2.7% in the second quarter. Penbrook Management LLC now owns 9,810 shares of the company's stock valued at $665,000 after purchasing an additional 260 shares during the period. Finally, Portside Wealth Group LLC raised its position in Skyline Champion by 10.0% during the 3rd quarter. Portside Wealth Group LLC now owns 3,339 shares of the company's stock worth $317,000 after purchasing an additional 304 shares during the last quarter.

Insider Transactions at Skyline Champion

In other news, EVP Jonathan Wade Lyall sold 10,000 shares of the company's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $89.90, for a total value of $899,000.00. Following the completion of the sale, the executive vice president now directly owns 36,082 shares in the company, valued at $3,243,771.80. This represents a 21.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mak Capital One Llc sold 40,000 shares of the company's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $88.87, for a total value of $3,554,800.00. Following the completion of the sale, the director now owns 2,716,500 shares of the company's stock, valued at approximately $241,415,355. The trade was a 1.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,192 shares of company stock valued at $12,660,782. Insiders own 6.90% of the company's stock.

Skyline Champion Stock Performance

NYSE SKY remained flat at $97.08 on Friday. The company's stock had a trading volume of 342,852 shares, compared to its average volume of 418,391. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42. Skyline Champion Co. has a 1-year low of $58.35 and a 1-year high of $101.39. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 37.48 and a beta of 1.59. The firm's 50-day simple moving average is $93.32 and its 200-day simple moving average is $82.95.

Skyline Champion (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.61 by $0.32. The business had revenue of $616.88 million during the quarter, compared to analyst estimates of $600.52 million. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. Skyline Champion's quarterly revenue was up 32.9% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. On average, research analysts forecast that Skyline Champion Co. will post 3.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SKY. Wedbush reissued a "neutral" rating and issued a $64.00 price target on shares of Skyline Champion in a research note on Wednesday, August 7th. Royal Bank of Canada boosted 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. Craig Hallum raised their price target on shares of Skyline Champion from $92.00 to $99.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Barclays upped their target price on shares of Skyline Champion from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Skyline Champion from a "sell" rating to a "hold" rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $85.40.

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.