Wellington Management Group LLP Decreases Stake in Skyline Champion Co. (NYSE:SKY)

Wellington Management Group LLP decreased its holdings in shares of Skyline Champion Co. (NYSE:SKY) by 30.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,293,784 shares of the company’s stock after selling 2,344,980 shares during the quarter. Wellington Management Group LLP owned about 9.24% of Skyline Champion worth $466,382,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new stake in Skyline Champion during the 4th quarter valued at about $36,000. Quarry LP purchased a new position in Skyline Champion during the third quarter worth approximately $67,000. Venturi Wealth Management LLC acquired a new position in Skyline Champion during the fourth quarter worth $112,000. New Age Alpha Advisors LLC purchased a new stake in Skyline Champion in the 4th quarter valued at $176,000. Finally, KBC Group NV increased its stake in shares of Skyline Champion by 53.9% in the 4th quarter. KBC Group NV now owns 2,288 shares of the company’s stock worth $202,000 after acquiring an additional 801 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SKY. Barclays upped their price objective on shares of Skyline Champion from $90.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Royal Bank of Canada upped their price target on Skyline Champion from $88.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $90.20.

Insider Transactions at Skyline Champion

In related news, VP Timothy A. Burkhardt sold 3,823 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $106.87, for a total value of $408,564.01. Following the completion of the transaction, the vice president now directly owns 32,706 shares of the company’s stock, valued at $3,495,290.22. This represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph A. Kimmell sold 4,335 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $104.21, for a total transaction of $451,750.35. Following the completion of the transaction, the executive vice president now owns 39,411 shares in the company, valued at $4,107,020.31. This represents a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Skyline Champion Stock Up 0.9 %

Skyline Champion stock opened at $94.91 on Tuesday. The firm has a market capitalization of $5.44 billion, a P/E ratio of 33.42 and a beta of 1.61. The stock’s fifty day simple moving average is $97.76 and its 200-day simple moving average is $96.05. Skyline Champion Co. has a twelve month low of $64.82 and a twelve month high of $116.49. The company has a current ratio of 2.59, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.24. Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. As a group, equities analysts expect that Skyline Champion Co. will post 3.63 earnings per share for the current fiscal year.

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.