Congress Wealth Management LLC DE Has $7.55 Million Holdings in Skyline Champion Co. (NYSE:SKY)

Congress Wealth Management LLC DE raised its stake in Skyline Champion Co. (NYSE:SKY) by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,863 shares of the company’s stock after acquiring an additional 3,638 shares during the quarter. Congress Wealth Management LLC DE owned about 0.15% of Skyline Champion worth $7,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kessler Investment Group LLC acquired a new stake in shares of Skyline Champion during the 4th quarter worth approximately $123,000. Envestnet Portfolio Solutions Inc. bought a new position in Skyline Champion during the 3rd quarter worth approximately $216,000. Vestmark Advisory Solutions Inc. bought a new position in Skyline Champion during the 4th quarter worth approximately $219,000. Outlook Wealth Advisors LLC bought a new position in Skyline Champion during the 4th quarter worth approximately $231,000. Finally, Mackenzie Financial Corp bought a new position in Skyline Champion during the 4th quarter worth approximately $246,000.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SKY shares. Craig Hallum cut their price target on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Royal Bank of Canada cut their price target on shares of Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 23rd. StockNews.com lowered shares of Skyline Champion from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Barclays cut their price target on shares of Skyline Champion from $76.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 29th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $72.00 price target on shares of Skyline Champion in a research note on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $70.80.

Skyline Champion Stock Down 3.2 %

Shares of NYSE SKY traded down $2.15 during midday trading on Monday, reaching $65.60. The company’s stock had a trading volume of 358,049 shares, compared to its average volume of 311,263. The company has a current ratio of 2.36, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02. Skyline Champion Co. has a fifty-two week low of $52.12 and a fifty-two week high of $86.71. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 25.83 and a beta of 1.57. The stock has a 50 day simple moving average of $73.43 and a 200-day simple moving average of $75.80.

Skyline Champion (NYSE:SKY) last posted its quarterly earnings data on Tuesday, May 21st. The company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Skyline Champion had a net margin of 7.24% and a return on equity of 13.32%. The business had revenue of $536.36 million during the quarter, compared to analyst estimates of $560.90 million. During the same quarter last year, the business earned $1.00 earnings per share. Skyline Champion’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts predict that Skyline Champion Co. will post 2.76 earnings per share 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.