Rhumbline Advisers Sells 4,198 Shares of Skyline Champion Co. (NYSE:SKY)

Rhumbline Advisers trimmed its holdings in Skyline Champion Co. (NYSE:SKY - Free Report) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,583 shares of the company's stock after selling 4,198 shares during the period. Rhumbline Advisers owned 0.26% of Skyline Champion worth $13,985,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Skyline Champion by 80.7% in the 4th quarter. Bank of New York Mellon Corp now owns 351,060 shares of the company's stock valued at $30,928,000 after purchasing an additional 156,757 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Skyline Champion in the 4th quarter worth approximately $712,000. Van ECK Associates Corp boosted its position in Skyline Champion by 21.8% during the fourth quarter. Van ECK Associates Corp now owns 40,108 shares of the company's stock valued at $3,534,000 after acquiring an additional 7,184 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Skyline Champion during the fourth quarter worth approximately $1,692,000. Finally, GAMMA Investing LLC grew its position in shares of Skyline Champion by 38,372.4% during the 1st quarter. GAMMA Investing LLC now owns 96,181 shares of the company's stock worth $9,114,000 after buying an additional 95,931 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SKY shares. Zelman & Associates raised Skyline Champion from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 5th. Royal Bank of Canada cut their price target on shares of Skyline Champion from $96.00 to $82.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 28th. Finally, Barclays decreased their target price on Skyline Champion from $97.00 to $72.00 and set an "equal weight" rating for the company in a research report 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's stock. According to data from MarketBeat, Skyline Champion currently has an average rating of "Hold" and an average price target of $80.60.

Skyline Champion Stock Performance

Shares of SKY stock traded down $0.88 during trading on Thursday, reaching $64.62. 835,711 shares of the company's stock traded hands, compared to its average volume of 589,949. The company has a market capitalization of $3.70 billion, a P/E ratio of 22.75 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. The firm's 50-day moving average is $80.96 and its 200 day moving average is $91.30.

Skyline Champion (NYSE:SKY - Get Free Report) last posted its 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 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 the consensus estimate of $595.42 million. During the same period last year, the company posted $0.62 EPS. The business's revenue was up .7% on a year-over-year basis. Equities research analysts expect that Skyline Champion Co. will post 3.63 EPS for the current year.

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

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.