Skyline Champion Co. (NYSE:SKY) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its position in Skyline Champion Co. (NYSE:SKY - Free Report) by 38,372.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,181 shares of the company's stock after acquiring an additional 95,931 shares during the quarter. GAMMA Investing LLC owned 0.17% of Skyline Champion worth $9,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in Skyline Champion during the fourth quarter valued at $36,000. Sterling Capital Management LLC raised its position in Skyline Champion by 645.5% during the fourth quarter. Sterling Capital Management LLC now owns 917 shares of the company's stock valued at $81,000 after purchasing an additional 794 shares during the period. Headlands Technologies LLC bought a new stake in shares of Skyline Champion in the 4th quarter worth about $108,000. Venturi Wealth Management LLC bought a new position in Skyline Champion during the 4th quarter worth about $112,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Skyline Champion in the 4th quarter valued at $176,000.

Skyline Champion Stock Performance

Shares of Skyline Champion stock traded up $0.32 during trading on Monday, hitting $64.69. 33,068 shares of the company's stock were exchanged, compared to its average volume of 581,683. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 22.76 and a beta of 1.19. The business has a 50-day simple moving average of $82.38 and a 200-day simple moving average of $91.91. Skyline Champion Co. has a 52-week low of $63.13 and a 52-week high of $116.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59.

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

Skyline Champion announced that its board has approved a stock repurchase program on Friday, May 30th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

SKY has been the topic of several analyst reports. Royal Bank of Canada cut their target price on Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 28th. Zelman & Associates raised shares of Skyline Champion from a "strong sell" rating to a "hold" rating in a report on Thursday. Finally, Barclays reduced their target price on Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $80.60.

Skyline Champion Company 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.