Kornitzer Capital Management Inc. KS Invests $11.38 Million in Skyline Champion Co. (NYSE:SKY)

Kornitzer Capital Management Inc. KS acquired a new stake in Skyline Champion Co. (NYSE:SKY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 153,285 shares of the company's stock, valued at approximately $11,383,000. Kornitzer Capital Management Inc. KS owned approximately 0.27% of Skyline Champion at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SKY. JPMorgan Chase & Co. boosted its holdings in Skyline Champion by 28.9% in the 1st quarter. JPMorgan Chase & Co. now owns 60,302 shares of the company's stock valued at $3,309,000 after purchasing an additional 13,513 shares in the last quarter. Private Advisor Group LLC purchased a new stake in Skyline Champion in the 1st quarter valued at approximately $277,000. Bank of Montreal Can purchased a new stake in Skyline Champion in the 1st quarter valued at approximately $222,000. Acadian Asset Management LLC purchased a new stake in shares of Skyline Champion during the 1st quarter worth approximately $496,000. Finally, MetLife Investment Management LLC boosted its stake in shares of Skyline Champion by 53.8% during the 1st quarter. MetLife Investment Management LLC now owns 28,047 shares of the company's stock worth $1,539,000 after acquiring an additional 9,809 shares in the last quarter.

Skyline Champion Price Performance

SKY stock traded up $1.78 on Friday, reaching $75.14. The company had a trading volume of 284,889 shares, compared to its average volume of 253,849. Skyline Champion Co. has a 1 year low of $52.12 and a 1 year high of $86.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.71 and a current ratio of 2.56. The company's fifty day moving average is $81.36 and its 200 day moving average is $71.13. The company has a market cap of $4.34 billion, a P/E ratio of 21.53 and a beta of 1.53.

Skyline Champion (NYSE:SKY - Get Free Report) last posted its earnings results on Monday, February 5th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.12. Skyline Champion had a return on equity of 15.45% and a net margin of 10.19%. The firm had revenue of $559.46 million for the quarter, compared to analyst estimates of $505.20 million. On average, research analysts forecast that Skyline Champion Co. will post 3.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wedbush reissued a "neutral" rating and set a $72.00 price target on shares of Skyline Champion in a research note on Tuesday, February 6th. Royal Bank of Canada boosted their price target on Skyline Champion from $69.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 7th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $71.40.

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.