Kornitzer Capital Management Inc. KS Grows Position in Skyline Champion Co. (NYSE:SKY)

by · The Markets Daily

Kornitzer Capital Management Inc. KS boosted its position in shares of Skyline Champion Co. (NYSE:SKY – Free Report) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 175,250 shares of the company’s stock after buying an additional 875 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.30% of Skyline Champion worth $16,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Skyline Champion during the first quarter worth about $791,000. Bessemer Group Inc. grew its position in shares of Skyline Champion by 7.0% in the 1st quarter. Bessemer Group Inc. now owns 156,782 shares of the company’s stock worth $13,328,000 after buying an additional 10,251 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Skyline Champion in the 1st quarter worth approximately $728,000. Canada Pension Plan Investment Board increased its stake in shares of Skyline Champion by 38.6% during the second quarter. Canada Pension Plan Investment Board now owns 42,700 shares of the company’s stock valued at $2,893,000 after buying an additional 11,900 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Skyline Champion by 4.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 844,367 shares of the company’s stock valued at $57,206,000 after acquiring an additional 35,880 shares in the last quarter.

Analyst Ratings Changes

Several research firms recently weighed in on SKY. Wedbush restated a “neutral” rating and set a $64.00 price target on shares of Skyline Champion in a research report on Wednesday, August 7th. Royal Bank of Canada upped their target price on shares of Skyline Champion from $82.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Craig Hallum raised their target price on shares of Skyline Champion from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised Skyline Champion from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.40.

Get Our Latest Report on SKY

Insiders Place Their Bets

In other Skyline Champion news, Director Mak Capital One Llc sold 40,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total transaction of $3,554,800.00. Following the completion of the transaction, the director now owns 2,716,500 shares in the company, valued at $241,415,355. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Jonathan Wade Lyall sold 12,448 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $87.88, for a total transaction of $1,093,930.24. Following the transaction, the executive vice president now owns 46,082 shares of the company’s stock, valued at approximately $4,049,686.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mak Capital One Llc sold 40,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $88.87, for a total value of $3,554,800.00. Following the transaction, the director now owns 2,716,500 shares of the company’s stock, valued at approximately $241,415,355. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 163,636 shares of company stock worth $14,582,253 over the last three months. 6.90% of the stock is currently owned by company insiders.

Skyline Champion Stock Performance

Shares of Skyline Champion stock traded up $1.61 on Thursday, hitting $93.94. 10,730 shares of the company’s stock were exchanged, compared to its average volume of 357,394. Skyline Champion Co. has a 1 year low of $53.84 and a 1 year high of $101.39. The company has a 50-day simple moving average of $92.54 and a 200-day simple moving average of $81.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 2.42. The stock has a market capitalization of $5.39 billion, a PE ratio of 35.65 and a beta of 1.59.

Skyline Champion (NYSE:SKY – Get Free Report) last released its earnings results on Monday, October 28th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.32. The company had revenue of $616.88 million for the quarter, compared to the consensus estimate of $600.52 million. Skyline Champion had a return on equity of 13.20% and a net margin of 6.42%. Skyline Champion’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. As a group, equities analysts anticipate that Skyline Champion Co. will post 3.33 EPS for the current year.

Skyline Champion Company Profile

(Free Report)

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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