Jacobs Levy Equity Management Inc. Decreases Stock Position in Skyline Champion Co. (NYSE:SKY)

Jacobs Levy Equity Management Inc. cut its holdings in Skyline Champion Co. (NYSE:SKY) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,577 shares of the company’s stock after selling 9,318 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.37% of Skyline Champion worth $20,163,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC raised its stake in Skyline Champion by 7.4% in the 3rd quarter. CWM LLC now owns 2,286 shares of the company’s stock valued at $217,000 after purchasing an additional 158 shares during the last quarter. Verdence Capital Advisors LLC increased its position in Skyline Champion by 5.1% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,514 shares of the company’s stock worth $333,000 after purchasing an additional 171 shares in the last quarter. SummerHaven Investment Management LLC increased its position in Skyline Champion by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 11,262 shares of the company’s stock worth $763,000 after purchasing an additional 216 shares in the last quarter. Penbrook Management LLC increased its position in Skyline Champion by 2.7% during the 2nd quarter. Penbrook Management LLC now owns 9,810 shares of the company’s stock worth $665,000 after purchasing an additional 260 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Skyline Champion by 0.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 33,894 shares of the company’s stock worth $3,215,000 after purchasing an additional 299 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Skyline Champion Stock Performance

SKY stock opened at $103.69 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.02. The firm has a market cap of $5.95 billion, a P/E ratio of 40.03 and a beta of 1.59. Skyline Champion Co. has a 12-month low of $63.27 and a 12-month high of $107.26. The stock’s 50 day simple moving average is $95.77 and its 200 day simple moving average is $84.90.

Skyline Champion (NYSE:SKY) last issued its earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.32. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. The firm had revenue of $616.88 million for the quarter, compared to analyst estimates of $600.52 million. During the same period last year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. As a group, equities research analysts predict that Skyline Champion Co. will post 3.43 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mak Capital One Llc sold 40,000 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.90% of the stock is owned by corporate 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.