Millennium Management LLC Sells 124,049 Shares of Skyline Champion Co. (NYSE:SKY)

Millennium Management LLC lowered its holdings in Skyline Champion Co. (NYSE:SKY - Free Report) by 93.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,624 shares of the company's stock after selling 124,049 shares during the period. Millennium Management LLC's holdings in Skyline Champion were worth $760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jennison Associates LLC purchased a new stake in shares of Skyline Champion during the fourth quarter valued at $659,000. Yousif Capital Management LLC purchased a new stake in Skyline Champion during the fourth quarter valued at about $1,770,000. Meritage Portfolio Management lifted its stake in Skyline Champion by 8.1% during the fourth quarter. Meritage Portfolio Management now owns 5,698 shares of the company's stock valued at $502,000 after buying an additional 428 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Skyline Champion in the fourth quarter worth approximately $2,651,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Skyline Champion in the fourth quarter worth approximately $2,247,000.

Skyline Champion Stock Up 2.3%

SKY stock traded up $1.48 during midday trading on Tuesday, reaching $66.53. The company had a trading volume of 748,635 shares, compared to its average volume of 585,801. The company has a 50 day moving average of $81.38 and a two-hundred day moving average of $91.48. The company has a market capitalization of $3.81 billion, a P/E ratio of 23.42 and a beta of 1.19. Skyline Champion Co. has a 1 year low of $63.13 and a 1 year high of $116.49. The company has a current ratio of 2.59, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02.

Skyline Champion (NYSE:SKY - Get Free Report) last announced 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 return on equity of 13.80% and a net margin of 6.80%. The firm had revenue of $593.87 million for the quarter, compared to analysts' expectations of $595.42 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. Skyline Champion's revenue was up .7% on a year-over-year basis. On average, equities research analysts expect that Skyline Champion Co. will post 3.63 earnings per share for the current fiscal year.

Skyline Champion declared that its Board of Directors has authorized a stock repurchase plan on Friday, May 30th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to buy up to 1.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on SKY shares. Barclays lowered their price objective on shares of Skyline Champion from $97.00 to $72.00 and set an "equal weight" 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 research report on Thursday, June 5th. Finally, Royal Bank of Canada dropped their price target 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. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $80.60.

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.