Pier Capital LLC Has $4.32 Million Stake in Skyline Champion Co. (NYSE:SKY)

Pier Capital LLC trimmed its holdings in shares of Skyline Champion Co. (NYSE:SKY) by 41.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 63,785 shares of the company’s stock after selling 44,680 shares during the period. Pier Capital LLC’s holdings in Skyline Champion were worth $4,321,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Headlands Technologies LLC grew its position in shares of Skyline Champion by 413.0% in the second quarter. Headlands Technologies LLC now owns 3,776 shares of the company’s stock valued at $256,000 after purchasing an additional 3,040 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Skyline Champion in the second quarter valued at about $372,000. Arizona State Retirement System grew its position in shares of Skyline Champion by 2.2% in the second quarter. Arizona State Retirement System now owns 15,359 shares of the company’s stock valued at $1,041,000 after purchasing an additional 324 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Skyline Champion by 46.0% in the second quarter. Victory Capital Management Inc. now owns 669,895 shares of the company’s stock valued at $45,385,000 after purchasing an additional 211,099 shares during the last quarter. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of Skyline Champion in the second quarter valued at about $217,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Craig Hallum lowered their price target on 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 lifted their price target on shares of Skyline Champion from $68.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Wedbush restated a “neutral” rating and issued a $64.00 price objective on shares of Skyline Champion in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays increased their price objective on shares of Skyline Champion from $68.00 to $85.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Skyline Champion currently has an average rating of “Hold” and a consensus price target of $78.75.

Skyline Champion Trading Down 0.3 %

Shares of Skyline Champion stock opened at $87.02 on Wednesday. The stock has a market capitalization of $5.03 billion, a P/E ratio of 34.26 and a beta of 1.57. The company has a quick ratio of 1.57, a current ratio of 2.33 and a debt-to-equity ratio of 0.02. The company has a 50-day simple moving average of $81.80 and a 200 day simple moving average of $78.61. Skyline Champion Co. has a 12-month low of $52.12 and a 12-month high of $93.67.

Skyline Champion (NYSE:SKY) last announced its earnings results on Tuesday, August 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The business had revenue of $627.80 million during the quarter, compared to analysts’ expectations of $600.39 million. Skyline Champion had a net margin of 6.45% and a return on equity of 13.07%. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter last year, the company posted $0.89 EPS. Research analysts expect that Skyline Champion Co. will post 3.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Skyline Champion news, Director Erin Mulligan Nelson sold 1,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $83.18, for a total transaction of $83,180.00. Following the sale, the director now owns 5,170 shares of the company’s stock, valued at approximately $430,040.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Skyline Champion news, Director Mak Capital One Llc sold 80,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $90.16, for a total transaction of $7,212,800.00. Following the sale, the director now owns 2,920,000 shares of the company’s stock, valued at approximately $263,267,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Erin Mulligan Nelson sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $83.18, for a total transaction of $83,180.00. Following the completion of the transaction, the director now directly owns 5,170 shares in the company, valued at approximately $430,040.60. The disclosure for this sale can be found here. Insiders have sold a total of 167,136 shares of company stock valued at $14,834,183 in the last 90 days. 6.90% of the stock is currently owned by insiders.

Skyline Champion Company 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.