Insider Selling: Skyline Champion Co. (NYSE:SKY) VP Sells $241,920.00 in Stock

Posted by Defense World Staff on Mar 5th, 2023

Skyline Champion Co. (NYSE:SKY – Get Rating) VP Timothy A. Burkhardt sold 3,500 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $69.12, for a total value of $241,920.00. Following the sale, the vice president now owns 26,066 shares in the company, valued at $1,801,681.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Skyline Champion Stock Performance

Skyline Champion stock opened at $69.83 on Friday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 9.31 and a beta of 1.65. Skyline Champion Co. has a 12 month low of $43.04 and a 12 month high of $73.40. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.01. The stock’s 50-day moving average is $61.29 and its 200-day moving average is $56.83.

Skyline Champion (NYSE:SKY – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.47. The business had revenue of $582.30 million for the quarter, compared to analyst estimates of $534.75 million. Skyline Champion had a return on equity of 42.79% and a net margin of 15.65%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 EPS. Equities analysts anticipate that Skyline Champion Co. will post 6.74 earnings per share for the current year.

Analyst Ratings Changes

SKY has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on Skyline Champion from $54.00 to $65.00 in a research report on Wednesday, February 8th. Craig Hallum increased their target price on Skyline Champion from $65.00 to $78.00 in a research report on Wednesday, February 8th. Barclays downgraded Skyline Champion from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $65.00 to $60.00 in a research report on Wednesday, December 14th. Finally, StockNews.com downgraded Skyline Champion from a “buy” rating to a “hold” rating in a research report on Wednesday, February 8th.

Hedge Funds Weigh In On Skyline Champion

Hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC lifted its stake in shares of Skyline Champion by 3.6% in the 3rd quarter. Nuveen Asset Management LLC now owns 601,274 shares of the company’s stock valued at $31,790,000 after purchasing an additional 20,827 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Skyline Champion by 409.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 42,194 shares of the company’s stock worth $2,002,000 after acquiring an additional 33,918 shares in the last quarter. ExodusPoint Capital Management LP lifted its position in Skyline Champion by 56.0% during the 2nd quarter. ExodusPoint Capital Management LP now owns 100,034 shares of the company’s stock worth $4,744,000 after acquiring an additional 35,913 shares in the last quarter. Pictet Asset Management SA acquired a new position in Skyline Champion during the 3rd quarter worth approximately $208,000. Finally, Renaissance Technologies LLC lifted its position in Skyline Champion by 35.8% during the 2nd quarter. Renaissance Technologies LLC now owns 507,100 shares of the company’s stock worth $24,047,000 after acquiring an additional 133,800 shares in the last quarter. 99.56% of the stock is owned by institutional investors and hedge funds.

Skyline Champion Company Profile

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Skyline Champion Corp. engages in the manufacturing and retail of mobile homes and other manufactured housing. It builds homes under the following brands: Skyline Homes, Champion Home Builders, Athens Park Model RVs, Dutch Housing, Excel Homes, Homes of Merit, New Era, Redman Homes, Shore Park, Silvercrest, Titan Homes in the U.S.