Gabelli Funds LLC Sells 5,500 Shares of Skyline Champion Co. (NYSE:SKY)

Gabelli Funds LLC lowered its stake in Skyline Champion Co. (NYSE:SKY) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,400 shares of the company’s stock after selling 5,500 shares during the quarter. Gabelli Funds LLC owned 0.26% of Skyline Champion worth $12,871,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SKY. SummerHaven Investment Management LLC grew its position in Skyline Champion by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 10,909 shares of the company’s stock valued at $810,000 after purchasing an additional 150 shares during the period. Meritage Portfolio Management grew its position in Skyline Champion by 5.4% in the 4th quarter. Meritage Portfolio Management now owns 5,223 shares of the company’s stock valued at $388,000 after purchasing an additional 269 shares during the period. Verdence Capital Advisors LLC grew its position in Skyline Champion by 14.8% in the 1st quarter. Verdence Capital Advisors LLC now owns 3,857 shares of the company’s stock valued at $328,000 after purchasing an additional 497 shares during the period. Virtu Financial LLC grew its position in Skyline Champion by 16.1% in the 4th quarter. Virtu Financial LLC now owns 4,805 shares of the company’s stock valued at $357,000 after purchasing an additional 667 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Skyline Champion in the 1st quarter valued at $63,000.

Insider Buying and Selling

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

Analyst Ratings Changes

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

Skyline Champion Stock Up 5.7 %

SKY traded up $4.40 during mid-day trading on Friday, reaching $81.96. 601,016 shares of the stock were exchanged, compared to its average volume of 470,887. The company has a 50 day moving average price of $71.52 and a two-hundred day moving average price of $75.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.54 and a current ratio of 2.36. The stock has a market capitalization of $4.74 billion, a PE ratio of 32.27 and a beta of 1.57. Skyline Champion Co. has a 1 year low of $52.12 and a 1 year high of $86.71.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings results on Tuesday, May 21st. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). The company had revenue of $536.36 million during the quarter, compared to analysts’ expectations of $560.90 million. Skyline Champion had a return on equity of 13.32% and a net margin of 7.24%. Skyline Champion’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $1.00 earnings per share. As a group, research analysts anticipate that Skyline Champion Co. will post 2.76 EPS for the current 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.