Oppenheimer & Co. Inc. Takes $808,000 Position in Skyline Champion Co. (NYSE:SKY)

Oppenheimer & Co. Inc. purchased a new stake in shares of Skyline Champion Co. (NYSE:SKY) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,518 shares of the company’s stock, valued at approximately $808,000.

Several other large investors have also recently bought and sold shares of SKY. CWM LLC increased its holdings in shares of Skyline Champion by 7.4% in the 3rd quarter. CWM LLC now owns 2,286 shares of the company’s stock valued at $217,000 after purchasing an additional 158 shares during the period. Verdence Capital Advisors LLC grew its position in Skyline Champion by 5.1% during the third quarter. Verdence Capital Advisors LLC now owns 3,514 shares of the company’s stock valued at $333,000 after purchasing an additional 171 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Skyline Champion by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 11,262 shares of the company’s stock valued at $763,000 after buying an additional 216 shares during the period. Penbrook Management LLC lifted its position in Skyline Champion by 2.7% in the 2nd quarter. Penbrook Management LLC now owns 9,810 shares of the company’s stock worth $665,000 after buying an additional 260 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its stake in shares of Skyline Champion by 10.0% during the 3rd quarter. Portside Wealth Group LLC now owns 3,339 shares of the company’s stock valued at $317,000 after buying an additional 304 shares during the period.

Skyline Champion Price Performance

Shares of Skyline Champion stock opened at $98.69 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $93.74 and a 200-day simple moving average of $83.28. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 38.10 and a beta of 1.59. Skyline Champion Co. has a 1-year low of $58.62 and a 1-year high of $101.39.

Skyline Champion (NYSE:SKY) last released its quarterly earnings results on Monday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.32. The company had revenue of $616.88 million during the quarter, compared to analysts’ expectations of $600.52 million. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 earnings per share. On average, sell-side analysts expect that Skyline Champion Co. will post 3.43 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SKY. Royal Bank of Canada increased their price objective on Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 30th. Wedbush reiterated a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a report on Wednesday, August 7th. Craig Hallum increased their price objective on Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, StockNews.com raised shares of Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $85.40.

Insider Buying and Selling at Skyline Champion

In other Skyline Champion news, EVP Jonathan Wade Lyall sold 10,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $89.90, for a total value of $899,000.00. Following the sale, the executive vice president now directly owns 36,082 shares in the company, valued at $3,243,771.80. This trade represents a 21.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mak Capital One Llc sold 40,000 shares of the stock in a transaction dated 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 approximately $241,415,355. The trade was a 1.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,000 shares of company stock valued at $11,666,600 in the last 90 days. 6.90% of the stock is currently owned by insiders.

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.