Commerce Bank Sells 249 Shares of Skyline Champion Co. (NYSE:SKY)

Commerce Bank lessened its stake in shares of Skyline Champion Co. (NYSE:SKY) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,753 shares of the company’s stock after selling 249 shares during the quarter. Commerce Bank’s holdings in Skyline Champion were worth $830,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in Skyline Champion during the third quarter worth $76,000. Kessler Investment Group LLC increased its holdings in Skyline Champion by 41.0% during the 2nd quarter. Kessler Investment Group LLC now owns 2,225 shares of the company’s stock worth $151,000 after purchasing an additional 647 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Skyline Champion by 77,800.0% in the second quarter. Blue Trust Inc. now owns 3,116 shares of the company’s stock worth $211,000 after purchasing an additional 3,112 shares during the last quarter. Cannon Global Investment Management LLC bought a new position in shares of Skyline Champion in the second quarter valued at approximately $217,000. Finally, CWM LLC boosted its position in shares of Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company’s stock valued at $217,000 after buying an additional 158 shares during the last quarter.

Insider Activity at Skyline Champion

In other news, Director Mak Capital One Llc sold 40,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the completion of the sale, the director now owns 2,716,500 shares of the company’s stock, valued at $241,415,355. The trade was a 1.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.90% of the stock is owned by insiders.

Skyline Champion Price Performance

Shares of Skyline Champion stock opened at $104.25 on Tuesday. The stock has a market capitalization of $5.98 billion, a P/E ratio of 40.25 and a beta of 1.59. The business’s 50 day simple moving average is $94.48 and its two-hundred day simple moving average is $83.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64. Skyline Champion Co. has a one year low of $58.85 and a one year high of $107.26.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.61 by $0.32. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The business had revenue of $616.88 million during the quarter, compared to analyst estimates of $600.52 million. During the same period last year, the business posted $0.82 earnings per share. Skyline Champion’s quarterly revenue was up 32.9% compared to the same quarter last year. Analysts forecast that Skyline Champion Co. will post 3.43 EPS for the current year.

Analyst Upgrades and Downgrades

SKY has been the subject of a number of analyst reports. Barclays increased their price target on Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Craig Hallum increased their target price on shares of Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Skyline Champion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group boosted their target price on Skyline Champion from $79.00 to $86.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $85.40.

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.