Congress Wealth Management LLC DE Has $7.55 Million Stake in Skyline Champion Co. (NYSE:SKY)

Congress Wealth Management LLC DE lifted its position in shares of Skyline Champion Co. (NYSE:SKY) by 4.3% during the first quarter, Holdings Channel.com reports. The firm owned 88,863 shares of the company’s stock after purchasing an additional 3,638 shares during the period. Congress Wealth Management LLC DE’s holdings in Skyline Champion were worth $7,554,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SKY. UBS Group AG raised its position in shares of Skyline Champion by 24.6% during the third quarter. UBS Group AG now owns 55,622 shares of the company’s stock worth $3,544,000 after purchasing an additional 10,979 shares during the period. Kestra Advisory Services LLC bought a new stake in Skyline Champion during the third quarter worth $287,000. Envestnet Portfolio Solutions Inc. bought a new stake in Skyline Champion during the third quarter worth $216,000. Northern Trust Corp grew its holdings in Skyline Champion by 0.6% during the third quarter. Northern Trust Corp now owns 557,331 shares of the company’s stock worth $35,513,000 after buying an additional 3,552 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Skyline Champion during the third quarter worth $2,482,000.

Analyst Ratings Changes

Several brokerages recently issued reports on SKY. Wedbush reiterated a “neutral” rating and set a $72.00 price target on shares of Skyline Champion in a report on Wednesday, May 22nd. Craig Hallum decreased their price target on Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Barclays decreased their price target on Skyline Champion from $76.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, May 29th. Royal Bank of Canada decreased their price target on Skyline Champion from $73.00 to $68.00 and set a “sector perform” rating for the company in a report on Thursday, May 23rd. Finally, StockNews.com downgraded Skyline Champion from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $70.80.

Skyline Champion Stock Performance

NYSE:SKY traded down $2.15 during trading on Monday, reaching $65.60. The company’s stock had a trading volume of 358,049 shares, compared to its average volume of 311,263. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 25.83 and a beta of 1.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.54 and a current ratio of 2.36. The firm has a 50 day moving average of $73.43 and a 200-day moving average of $75.80. Skyline Champion Co. has a 12 month low of $52.12 and a 12 month high of $86.71.

Skyline Champion (NYSE:SKY) last announced 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 the consensus estimate of $560.90 million. Skyline Champion had a net margin of 7.24% and a return on equity of 13.32%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. Research analysts expect that Skyline Champion Co. will post 2.76 EPS for the current fiscal year.

Insider Activity

In other news, EVP Joseph A. Kimmell sold 10,042 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $70.12, for a total transaction of $704,145.04. Following the transaction, the executive vice president now owns 47,262 shares of the company’s stock, valued at approximately $3,314,011.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Joseph A. Kimmell sold 10,042 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $70.12, for a total transaction of $704,145.04. Following the transaction, the executive vice president now owns 47,262 shares of the company’s stock, valued at approximately $3,314,011.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Timothy Mark Larson sold 3,500 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $71.98, for a total value of $251,930.00. Following the transaction, the insider now directly owns 48,800 shares in the company, valued at approximately $3,512,624. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

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.