Skyline Champion (NYSE:SKY) Stock Price Down 6.7%

Skyline Champion Co. (NYSE:SKY – Get Rating)’s share price traded down 6.7% during trading on Friday . The company traded as low as $64.49 and last traded at $64.85. 227,005 shares were traded during mid-day trading, a decline of 48% from the average session volume of 436,105 shares. The stock had previously closed at $69.52.

Analysts Set New Price Targets

Several research firms have recently issued reports on SKY. Royal Bank of Canada lifted their price target on Skyline Champion from $54.00 to $65.00 in a research note on Wednesday, February 8th. Craig Hallum upped their target price on Skyline Champion from $65.00 to $78.00 in a research report on Wednesday, February 8th. Finally, StockNews.com assumed coverage on Skyline Champion in a research report on Thursday. They set a “hold” rating on the stock.

Skyline Champion Price Performance

The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 8.94 and a beta of 1.67. The company has a current ratio of 3.86, a quick ratio of 3.01 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $70.66 and a 200 day simple moving average of $62.18.

Insiders Place Their Bets

In other news, 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 transaction of $241,920.00. Following the completion of 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 filing with the SEC, which is available at this hyperlink. In related news, EVP Joseph A. Kimmell sold 8,547 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $67.84, for a total transaction of $579,828.48. Following the completion of the transaction, the executive vice president now directly owns 27,204 shares of the company’s stock, valued at $1,845,519.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Timothy A. Burkhardt sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $69.12, for a total value of $241,920.00. Following the completion of the sale, the vice president now directly owns 26,066 shares of the company’s stock, valued at $1,801,681.92. The disclosure for this sale can be found here. Corporate insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Skyline Champion

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Skyline Champion by 28.9% during the 1st quarter. JPMorgan Chase & Co. now owns 60,302 shares of the company’s stock valued at $3,309,000 after acquiring an additional 13,513 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Skyline Champion in the 1st quarter worth approximately $277,000. Bank of Montreal Can purchased a new position in Skyline Champion in the first quarter valued at approximately $222,000. Acadian Asset Management LLC bought a new stake in Skyline Champion during the 1st quarter valued at $496,000. Finally, MetLife Investment Management LLC increased its holdings in shares of Skyline Champion by 53.8% in the first quarter. MetLife Investment Management LLC now owns 28,047 shares of the company’s stock worth $1,539,000 after purchasing an additional 9,809 shares during the period. Institutional investors own 99.56% of the company’s stock.

About Skyline Champion

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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.