Nordea Investment Management AB Sells 1,207 Shares of Skyline Champion Co. (NYSE:SKY)

Nordea Investment Management AB reduced its position in shares of Skyline Champion Co. (NYSE:SKYFree Report) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,107 shares of the company’s stock after selling 1,207 shares during the period. Nordea Investment Management AB owned 0.11% of Skyline Champion worth $5,446,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Kessler Investment Group LLC purchased a new stake in Skyline Champion during the fourth quarter worth about $123,000. Vestmark Advisory Solutions Inc. purchased a new stake in Skyline Champion during the fourth quarter worth about $219,000. Outlook Wealth Advisors LLC purchased a new stake in Skyline Champion during the fourth quarter worth about $231,000. Mackenzie Financial Corp purchased a new stake in Skyline Champion during the fourth quarter worth about $246,000. Finally, Spectrum Asset Management Inc. NB CA purchased a new stake in Skyline Champion during the fourth quarter worth about $287,000.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SKY shares. Wedbush reiterated a “neutral” rating and issued a $72.00 target price on shares of Skyline Champion in a research note on Wednesday, May 22nd. Barclays reduced their target price on shares of Skyline Champion from $76.00 to $68.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 29th. Royal Bank of Canada reduced their target price on shares of Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating for the company in a research note on Thursday, May 23rd. StockNews.com downgraded shares of Skyline Champion from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Finally, Craig Hallum reduced their target price on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $70.80.

Check Out Our Latest Analysis on SKY

Skyline Champion Price Performance

SKY stock opened at $67.85 on Wednesday. The firm has a 50 day moving average of $72.34 and a 200-day moving average of $75.54. The company has a current ratio of 2.36, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02. Skyline Champion Co. has a 12 month low of $52.12 and a 12 month high of $86.71. The firm has a market capitalization of $3.92 billion, a P/E ratio of 26.71 and a beta of 1.57.

Skyline Champion (NYSE:SKYGet Free Report) last announced its earnings results on Tuesday, May 21st. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Skyline Champion had a net margin of 7.24% and a return on equity of 13.32%. The company had revenue of $536.36 million for the quarter, compared to the consensus estimate of $560.90 million. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts predict that Skyline Champion Co. will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Skyline Champion

In other Skyline Champion news, EVP Joseph A. Kimmell sold 10,042 shares of Skyline Champion stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $70.12, for a total transaction of $704,145.04. Following the completion of the sale, the executive vice president now directly owns 47,262 shares in the company, valued at $3,314,011.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Skyline Champion news, EVP Joseph A. Kimmell sold 10,042 shares of Skyline Champion stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $70.12, for a total transaction of $704,145.04. Following the completion of the sale, the executive vice president now directly owns 47,262 shares in the company, valued at $3,314,011.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Timothy Mark Larson sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $71.98, for a total transaction of $251,930.00. Following the completion of the sale, the insider now owns 48,800 shares of the company’s stock, valued at $3,512,624. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by company insiders.

About Skyline Champion

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Skyline Champion (NYSE:SKY)

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