ProShare Advisors LLC Sells 2,475 Shares of Skyline Champion Co. (NYSE:SKY)

ProShare Advisors LLC lessened its stake in shares of Skyline Champion Co. (NYSE:SKY) by 25.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,255 shares of the company’s stock after selling 2,475 shares during the period. ProShare Advisors LLC’s holdings in Skyline Champion were worth $492,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SKY. Headlands Technologies LLC bought a new stake in Skyline Champion during the first quarter valued at about $63,000. Kessler Investment Group LLC grew its holdings in Skyline Champion by 41.0% during the second quarter. Kessler Investment Group LLC now owns 2,225 shares of the company’s stock valued at $151,000 after purchasing an additional 647 shares during the period. Blue Trust Inc. grew its holdings in Skyline Champion by 77,800.0% during the second quarter. Blue Trust Inc. now owns 3,116 shares of the company’s stock valued at $211,000 after purchasing an additional 3,112 shares during the period. Cannon Global Investment Management LLC bought a new stake in Skyline Champion during the second quarter valued at about $217,000. Finally, Burney Co. bought a new stake in Skyline Champion during the second quarter valued at about $231,000.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wedbush reissued a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on Skyline Champion from $68.00 to $82.00 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Barclays boosted their price objective on Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Finally, StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Skyline Champion presently has a consensus rating of “Hold” and a consensus target price of $78.75.

Insider Buying and Selling

In related news, Director Mak Capital One Llc sold 40,000 shares of the business’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 sale, the director now directly owns 2,716,500 shares in the company, valued at $241,415,355. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Skyline Champion news, EVP Jonathan Wade Lyall sold 10,000 shares of Skyline Champion stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $89.90, for a total transaction of $899,000.00. Following the completion of the transaction, the executive vice president now directly owns 36,082 shares of the company’s stock, valued at $3,243,771.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mak Capital One Llc sold 40,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the completion of the sale, the director now directly owns 2,716,500 shares in the company, valued at approximately $241,415,355. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,636 shares of company stock worth $14,582,253. Corporate insiders own 6.90% of the company’s stock.

Skyline Champion Price Performance

NYSE:SKY opened at $94.85 on Tuesday. The company has a current ratio of 2.33, a quick ratio of 1.57 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $5.48 billion, a P/E ratio of 37.34 and a beta of 1.58. Skyline Champion Co. has a 12 month low of $52.12 and a 12 month high of $97.22. The business’s 50-day moving average is $87.61 and its 200 day moving average is $79.60.

Skyline Champion (NYSE:SKY) last posted its earnings results on Tuesday, August 6th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The company had revenue of $627.80 million for the quarter, compared to the consensus estimate of $600.39 million. Skyline Champion had a return on equity of 13.07% and a net margin of 6.45%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. On average, equities research analysts forecast that Skyline Champion Co. will post 3.01 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.