GAMMA Investing LLC Has $9.11 Million Position in Skyline Champion Co. (NYSE:SKY)

GAMMA Investing LLC lifted its position in Skyline Champion Co. (NYSE:SKY - Free Report) by 38,372.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,181 shares of the company's stock after buying an additional 95,931 shares during the quarter. GAMMA Investing LLC owned approximately 0.17% of Skyline Champion worth $9,114,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Skyline Champion by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 5,942,992 shares of the company's stock worth $523,578,000 after acquiring an additional 876,712 shares in the last quarter. Capital World Investors grew its holdings in shares of Skyline Champion by 31.5% in the 4th quarter. Capital World Investors now owns 2,638,862 shares of the company's stock worth $232,484,000 after acquiring an additional 632,718 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Skyline Champion by 17.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,646,482 shares of the company's stock worth $145,055,000 after acquiring an additional 241,326 shares during the period. American Century Companies Inc. grew its holdings in Skyline Champion by 2.9% during the 4th quarter. American Century Companies Inc. now owns 1,411,769 shares of the company's stock valued at $124,377,000 after buying an additional 39,262 shares during the last quarter. Finally, Capital Research Global Investors acquired a new stake in shares of Skyline Champion during the fourth quarter worth $98,978,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SKY shares. Royal Bank of Canada cut their price objective on Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 28th. Zelman & Associates raised Skyline Champion from a "strong sell" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Barclays dropped their target price on Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $80.60.

Skyline Champion Stock Down 1.5%

Shares of Skyline Champion stock traded down $1.03 on Wednesday, hitting $65.54. 987,101 shares of the company traded hands, compared to its average volume of 588,966. The company has a 50-day moving average price of $80.96 and a 200 day moving average price of $91.30. The company has a quick ratio of 1.74, a current ratio of 2.59 and a debt-to-equity ratio of 0.02. Skyline Champion Co. has a 12-month low of $63.13 and a 12-month high of $116.49. The company has a market cap of $3.75 billion, a PE ratio of 23.08 and a beta of 1.19.

Skyline Champion (NYSE:SKY - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.10). Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. The business had revenue of $593.87 million during the quarter, compared to analyst estimates of $595.42 million. During the same period in the previous year, the firm posted $0.62 EPS. The firm's revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts predict that Skyline Champion Co. will post 3.63 earnings per share for the current year.

Skyline Champion declared that its board has authorized a share buyback program on Friday, May 30th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.