Skyline Champion Co. (NYSE:SKY) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its stake in shares of Skyline Champion Co. (NYSE:SKY - Free Report) by 93.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,624 shares of the company's stock after selling 124,049 shares during the quarter. Millennium Management LLC's holdings in Skyline Champion were worth $760,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of SKY. Jennison Associates LLC purchased a new stake in shares of Skyline Champion during the 4th quarter valued at about $659,000. Yousif Capital Management LLC purchased a new stake in Skyline Champion during the 4th quarter worth approximately $1,770,000. Meritage Portfolio Management increased its holdings in Skyline Champion by 8.1% during the 4th quarter. Meritage Portfolio Management now owns 5,698 shares of the company's stock worth $502,000 after purchasing an additional 428 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Skyline Champion during the 4th quarter worth approximately $2,651,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Skyline Champion during the 4th quarter worth approximately $2,247,000.

Wall Street Analyst Weigh In

Several research firms have issued reports on SKY. Royal Bank of Canada dropped their price objective on Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 28th. Barclays dropped their price objective 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. Finally, Zelman & Associates upgraded Skyline Champion from an "underperform" rating to a "neutral" rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Skyline Champion presently has a consensus rating of "Hold" and an average price target of $80.60.

Skyline Champion Price Performance

Shares of NYSE SKY opened at $64.44 on Friday. Skyline Champion Co. has a twelve month low of $63.13 and a twelve month 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. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 22.69 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 $92.02.

Skyline Champion (NYSE:SKY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.10). Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. The firm had revenue of $593.87 million during the quarter, compared to the consensus estimate of $595.42 million. During the same quarter last year, the firm posted $0.62 earnings per share. Skyline Champion's revenue was up .7% compared to the same quarter last year. As a group, equities research analysts expect that Skyline Champion Co. will post 3.63 earnings per share for the current year.

Skyline Champion declared that its board has initiated a share buyback plan on Friday, May 30th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is 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.

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