Townsquare Capital LLC Grows Stock Position in Skyline Champion Co. (NYSE:SKY)

Townsquare Capital LLC grew its position in shares of Skyline Champion Co. (NYSE:SKY) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,089 shares of the company’s stock after buying an additional 2,210 shares during the period. Townsquare Capital LLC’s holdings in Skyline Champion were worth $2,949,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SKY. Canada Pension Plan Investment Board boosted its holdings in shares of Skyline Champion by 38.6% in the second quarter. Canada Pension Plan Investment Board now owns 42,700 shares of the company’s stock worth $2,893,000 after acquiring an additional 11,900 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings 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 purchasing an additional 35,880 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Skyline Champion by 122.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,074 shares of the company’s stock valued at $1,029,000 after buying an additional 6,639 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Skyline Champion by 35.4% during the 1st quarter. Janus Henderson Group PLC now owns 42,484 shares of the company’s stock valued at $3,614,000 after buying an additional 11,096 shares in the last quarter. Finally, Algert Global LLC increased its position in shares of Skyline Champion by 164.1% during the third quarter. Algert Global LLC now owns 14,590 shares of the company’s stock valued at $1,384,000 after buying an additional 9,066 shares during the period.

Wall Street Analysts Forecast Growth

SKY has been the subject of several recent analyst reports. Craig Hallum boosted their price objective on shares of Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Skyline Champion from $82.00 to $88.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $64.00 price target on shares of Skyline Champion in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.40.

Insiders Place Their Bets

In other news, Director Mak Capital One Llc sold 40,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the transaction, the director now directly owns 2,716,500 shares of the company’s stock, valued at approximately $241,415,355. This trade represents a 1.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.90% of the company’s stock.

Skyline Champion Stock Performance

NYSE SKY opened at $103.73 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.42 and a debt-to-equity ratio of 0.02. The stock’s 50-day simple moving average is $95.27 and its two-hundred day simple moving average is $84.50. Skyline Champion Co. has a twelve month low of $59.78 and a twelve month high of $107.26. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 40.05 and a beta of 1.59.

Skyline Champion (NYSE:SKY) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. The company had revenue of $616.88 million for the quarter, compared to analysts’ expectations of $600.52 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. Skyline Champion’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. Research analysts forecast that Skyline Champion Co. will post 3.43 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.