Vista Finance LLC Trims Stake in Skyline Champion Co. (NYSE:SKY)

Vista Finance LLC reduced its position in Skyline Champion Co. (NYSE:SKY) by 16.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,026 shares of the company’s stock after selling 594 shares during the quarter. Vista Finance LLC’s holdings in Skyline Champion were worth $287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in 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 worth $30,928,000 after acquiring an additional 156,757 shares in the last quarter. XTX Topco Ltd bought a new position in Skyline Champion in the 4th quarter worth about $712,000. Van ECK Associates Corp grew its stake in Skyline Champion by 21.8% in the 4th quarter. Van ECK Associates Corp now owns 40,108 shares of the company’s stock worth $3,534,000 after acquiring an additional 7,184 shares in the last quarter. Rhumbline Advisers grew its stake in Skyline Champion by 85.0% in the 4th quarter. Rhumbline Advisers now owns 151,781 shares of the company’s stock worth $13,372,000 after acquiring an additional 69,756 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in Skyline Champion by 38,372.4% in the 1st quarter. GAMMA Investing LLC now owns 96,181 shares of the company’s stock worth $9,114,000 after acquiring an additional 95,931 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SKY. Zelman & Associates upgraded shares of Skyline Champion from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 5th. Royal Bank of Canada dropped their target price on shares of Skyline Champion from $96.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 28th. Finally, Barclays dropped their target price on shares of Skyline Champion from $97.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $80.60.

Skyline Champion Price Performance

NYSE SKY opened at $61.34 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 2.59. The firm’s 50 day moving average price is $80.18 and its 200-day moving average price is $90.74. Skyline Champion Co. has a 52-week low of $61.28 and a 52-week high of $116.49. The company has a market cap of $3.51 billion, a PE ratio of 21.60 and a beta of 1.19.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). Skyline Champion had a net margin of 6.80% and a return on equity of 13.80%. The business 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 company posted $0.62 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts forecast that Skyline Champion Co. will post 3.63 EPS for the current fiscal year.

Skyline Champion announced that its board has approved a share repurchase program on Friday, May 30th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are 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.