First Trust Advisors LP Decreases Position in Skyline Champion Co. (NYSE:SKY)

First Trust Advisors LP trimmed its holdings in shares of Skyline Champion Co. (NYSE:SKY) by 52.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,011 shares of the company’s stock after selling 16,786 shares during the quarter. First Trust Advisors LP’s holdings in Skyline Champion were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Skyline Champion by 17.3% during the fourth quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company’s stock valued at $523,578,000 after buying an additional 876,712 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Skyline Champion by 2.9% in the fourth quarter. American Century Companies Inc. now owns 1,411,769 shares of the company’s stock valued at $124,377,000 after purchasing an additional 39,262 shares during the period. Alliancebernstein L.P. raised its stake in shares of Skyline Champion by 4.3% in the fourth quarter. Alliancebernstein L.P. now owns 1,027,194 shares of the company’s stock worth $90,496,000 after purchasing an additional 41,916 shares during the last quarter. Norges Bank purchased a new stake in Skyline Champion in the fourth quarter valued at approximately $69,346,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Skyline Champion by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 682,259 shares of the company’s stock valued at $60,107,000 after acquiring an additional 42,278 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently commented on SKY shares. Barclays dropped their target price on Skyline Champion from $106.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada boosted their target price on shares of Skyline Champion from $88.00 to $96.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.40.

Insider Buying and Selling

In related news, EVP Joseph A. Kimmell sold 4,335 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $104.21, for a total transaction of $451,750.35. Following the transaction, the executive vice president now directly owns 39,411 shares in the company, valued at approximately $4,107,020.31. The trade was a 9.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Timothy A. Burkhardt sold 3,823 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $106.87, for a total transaction of $408,564.01. Following the sale, the vice president now directly owns 32,706 shares of the company’s stock, valued at approximately $3,495,290.22. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Skyline Champion Trading Down 1.9 %

Shares of SKY stock opened at $86.48 on Wednesday. Skyline Champion Co. has a 1-year low of $64.82 and a 1-year high of $116.49. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 30.45 and a beta of 1.37. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.59 and a quick ratio of 1.74. The stock has a 50 day simple moving average of $89.80 and a 200-day simple moving average of $94.11.

Skyline Champion (NYSE:SKY) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.24. Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. On average, equities research analysts expect that Skyline Champion Co. will post 3.63 EPS for the current fiscal year.

About Skyline Champion

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.