Pier Capital LLC Grows Stock Holdings in Skyline Champion Co. (NYSE:SKY)

Pier Capital LLC increased its holdings in shares of Skyline Champion Co. (NYSE:SKY) by 54.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,256 shares of the company’s stock after purchasing an additional 34,730 shares during the period. Pier Capital LLC owned approximately 0.17% of Skyline Champion worth $8,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new position in shares of Skyline Champion during the 3rd quarter valued at about $32,000. Harvest Fund Management Co. Ltd purchased a new position in Skyline Champion during the fourth quarter valued at approximately $36,000. Quarry LP acquired a new position in Skyline Champion in the third quarter valued at approximately $67,000. Venturi Wealth Management LLC purchased a new stake in Skyline Champion in the 4th quarter worth approximately $112,000. Finally, KBC Group NV grew its stake in shares of Skyline Champion by 53.9% during the 4th quarter. KBC Group NV now owns 2,288 shares of the company’s stock worth $202,000 after purchasing an additional 801 shares during the period.

Insider Buying and Selling at Skyline Champion

In other news, EVP Joseph A. Kimmell sold 4,335 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $104.21, for a total value of $451,750.35. Following the transaction, the executive vice president now directly owns 39,411 shares of the company’s stock, valued at approximately $4,107,020.31. This trade represents a 9.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Timothy A. Burkhardt sold 3,823 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $106.87, for a total transaction of $408,564.01. Following the sale, the vice president now directly owns 32,706 shares of the company’s stock, valued at approximately $3,495,290.22. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on SKY shares. Barclays increased their price target on shares of Skyline Champion from $90.00 to $106.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Royal Bank of Canada raised their target price on Skyline Champion from $88.00 to $96.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Five equities research 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 has a consensus rating of “Hold” and a consensus price target of $90.20.

Skyline Champion Stock Up 3.3 %

Shares of NYSE SKY opened at $97.34 on Tuesday. Skyline Champion Co. has a 52-week low of $64.82 and a 52-week high of $116.49. The company has a quick ratio of 1.74, a current ratio of 2.59 and a debt-to-equity ratio of 0.02. The company’s 50-day simple moving average is $97.26 and its 200-day simple moving average is $95.78. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 34.27 and a beta of 1.61.

Skyline Champion (NYSE:SKY) last announced its earnings results on Tuesday, February 4th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.24. Skyline Champion had a return on equity of 13.80% and a net margin of 6.80%. Equities analysts predict that Skyline Champion Co. will post 3.63 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.