Gabelli Funds LLC Reduces Stock Position in Skyline Champion Co. (NYSE:SKY)

Gabelli Funds LLC lowered its holdings in shares of Skyline Champion Co. (NYSE:SKY) by 3.5% in the first quarter, Holdings Channel.com reports. The fund owned 151,400 shares of the company’s stock after selling 5,500 shares during the quarter. Gabelli Funds LLC’s holdings in Skyline Champion were worth $12,871,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SKY. Headlands Technologies LLC purchased a new position in Skyline Champion during the 1st quarter valued at $63,000. Kessler Investment Group LLC purchased a new position in Skyline Champion during the 4th quarter valued at $123,000. Vestmark Advisory Solutions Inc. purchased a new position in Skyline Champion during the 4th quarter valued at $219,000. Outlook Wealth Advisors LLC purchased a new position in Skyline Champion during the 4th quarter valued at $231,000. Finally, Mackenzie Financial Corp purchased a new position in Skyline Champion during the 4th quarter valued at $246,000.

Skyline Champion Stock Up 5.7 %

Shares of SKY traded up $4.40 during trading hours on Friday, hitting $81.96. The company had a trading volume of 601,016 shares, compared to its average volume of 470,887. The company’s fifty day moving average price is $71.52 and its two-hundred day moving average price is $75.83. Skyline Champion Co. has a one year low of $52.12 and a one year high of $86.71. The company has a market capitalization of $4.74 billion, a PE ratio of 32.27 and a beta of 1.57. The company has a current ratio of 2.36, a quick ratio of 1.54 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY) last announced its earnings results on Tuesday, May 21st. The company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.05). Skyline Champion had a net margin of 7.24% and a return on equity of 13.32%. The business had revenue of $536.36 million for the quarter, compared to analyst estimates of $560.90 million. During the same period in the prior year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Skyline Champion Co. will post 2.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SKY shares. StockNews.com cut Skyline Champion from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Royal Bank of Canada lowered their target price 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. Craig Hallum lowered their target price on Skyline Champion from $88.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Wedbush reiterated a “neutral” rating and issued a $72.00 target price on shares of Skyline Champion in a report on Wednesday, May 22nd. Finally, Barclays lowered their target price 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.00.

Insider Activity at Skyline Champion

In related news, EVP Joseph A. Kimmell sold 10,042 shares of the company’s stock in a transaction dated 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 directly owns 47,262 shares of the company’s stock, valued at approximately $3,314,011.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Joseph A. Kimmell sold 10,042 shares of the company’s stock in a transaction dated 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 directly owns 47,262 shares of the company’s stock, valued at approximately $3,314,011.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy Mark Larson sold 3,500 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $71.98, for a total value 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 corporate insiders.

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.