Seven Eight Capital LP Takes $728,000 Position in Skyline Champion Co. (NYSE:SKY)

Seven Eight Capital LP purchased a new position in Skyline Champion Co. (NYSE:SKY) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 8,563 shares of the company’s stock, valued at approximately $728,000.

Other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Skyline Champion during the 1st quarter valued at about $63,000. Kessler Investment Group LLC purchased a new stake in Skyline Champion during the 4th quarter valued at about $123,000. Vestmark Advisory Solutions Inc. purchased a new stake in Skyline Champion during the 4th quarter valued at about $219,000. Outlook Wealth Advisors LLC purchased a new stake in Skyline Champion during the 4th quarter valued at about $231,000. Finally, Mackenzie Financial Corp purchased a new stake in Skyline Champion during the 4th quarter valued at about $246,000.

Analysts Set New Price Targets

SKY has been the topic of a number of recent analyst reports. Craig Hallum dropped their price target on shares of Skyline Champion from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Wedbush reaffirmed a “neutral” rating and set a $72.00 price target on shares of Skyline Champion in a report on Wednesday, May 22nd. StockNews.com downgraded shares of Skyline Champion from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Royal Bank of Canada dropped 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 report on Thursday, May 23rd. Finally, Barclays dropped 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 report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.00.

Skyline Champion Stock Performance

Shares of SKY traded up $0.46 on Tuesday, reaching $78.25. The company’s stock had a trading volume of 371,275 shares, compared to its average volume of 327,961. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.36 and a quick ratio of 1.54. The stock has a market capitalization of $4.52 billion, a P/E ratio of 30.81 and a beta of 1.57. The stock’s 50 day simple moving average is $71.65 and its two-hundred day simple moving average is $75.69. Skyline Champion Co. has a 12-month low of $52.12 and a 12-month high of $86.71.

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). The business had revenue of $536.36 million during the quarter, compared to analysts’ expectations of $560.90 million. Skyline Champion had a return on equity of 13.32% and a net margin of 7.24%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. Research analysts forecast that Skyline Champion Co. will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Skyline Champion news, insider Timothy Mark Larson sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $71.98, for a total transaction of $251,930.00. Following the sale, the insider now owns 48,800 shares in the company, valued at approximately $3,512,624. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Skyline Champion news, EVP Joseph A. Kimmell sold 10,042 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $70.12, for a total transaction of $704,145.04. Following the sale, the executive vice president now owns 47,262 shares in the company, valued at approximately $3,314,011.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy Mark Larson sold 3,500 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 48,800 shares in the company, valued at approximately $3,512,624. The disclosure for this sale can be found here. 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.