Meritage Portfolio Management Acquires 525 Shares of Skyline Champion Co. (NYSE:SKY)

Meritage Portfolio Management lifted its position in shares of Skyline Champion Co. (NYSE:SKY) by 11.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,270 shares of the company’s stock after purchasing an additional 525 shares during the quarter. Meritage Portfolio Management’s holdings in Skyline Champion were worth $500,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Skyline Champion in the first quarter worth $791,000. Bessemer Group Inc. lifted its position in Skyline Champion by 7.0% in the 1st quarter. Bessemer Group Inc. now owns 156,782 shares of the company’s stock worth $13,328,000 after buying an additional 10,251 shares during the last quarter. Seven Eight Capital LP purchased a new stake in shares of Skyline Champion in the 1st quarter valued at $728,000. Canada Pension Plan Investment Board grew its stake in shares of Skyline Champion by 38.6% during the second quarter. Canada Pension Plan Investment Board now owns 42,700 shares of the company’s stock valued at $2,893,000 after buying an additional 11,900 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in Skyline Champion by 4.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock worth $57,206,000 after acquiring an additional 35,880 shares during the last quarter.

Insider Activity at Skyline Champion

In related news, Director Mak Capital One Llc sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $90.16, for a total transaction of $7,212,800.00. Following the completion of the sale, the director now owns 2,920,000 shares in the company, valued at $263,267,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Skyline Champion news, Director Mak Capital One Llc sold 80,000 shares of Skyline Champion stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $90.16, for a total transaction of $7,212,800.00. Following the transaction, the director now owns 2,920,000 shares of the company’s stock, valued at $263,267,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan Wade Lyall sold 12,448 shares of Skyline Champion stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $87.88, for a total transaction of $1,093,930.24. Following the completion of the transaction, the executive vice president now owns 46,082 shares in the company, valued at approximately $4,049,686.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,640 shares of company stock valued at $13,754,712 over the last quarter. 6.90% of the stock is owned by insiders.

Skyline Champion Trading Up 0.2 %

SKY opened at $97.06 on Tuesday. The stock has a market capitalization of $5.57 billion, a PE ratio of 37.47 and a beta of 1.59. Skyline Champion Co. has a one year low of $54.85 and a one year high of $101.39. The business’s 50 day moving average price is $92.75 and its 200 day moving average price is $82.43. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.61 by $0.32. The company had revenue of $616.88 million during the quarter, compared to analysts’ expectations of $600.52 million. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The firm’s revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. As a group, equities research analysts expect that Skyline Champion Co. will post 3.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SKY shares. Barclays upped their target price on Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Wedbush reaffirmed a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a research report on Wednesday, August 7th. Craig Hallum boosted their price objective on Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price objective on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.40.

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.