Summit Partners Public Asset Management LLC Has $38.38 Million Holdings in Skyline Champion Co. (NYSE:SKY)

Summit Partners Public Asset Management LLC raised its holdings in Skyline Champion Co. (NYSE:SKY) by 23.3% in the third quarter, Holdings Channel reports. The fund owned 404,673 shares of the company’s stock after acquiring an additional 76,573 shares during the period. Skyline Champion accounts for about 1.2% of Summit Partners Public Asset Management LLC’s portfolio, making the stock its 20th biggest position. Summit Partners Public Asset Management LLC’s holdings in Skyline Champion were worth $38,383,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. CWM LLC raised its holdings in shares of Skyline Champion by 7.4% during the third quarter. CWM LLC now owns 2,286 shares of the company’s stock worth $217,000 after acquiring an additional 158 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Skyline Champion by 5.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,514 shares of the company’s stock valued at $333,000 after purchasing an additional 171 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of Skyline Champion by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 11,262 shares of the company’s stock valued at $763,000 after purchasing an additional 216 shares in the last quarter. Penbrook Management LLC boosted its position in shares of Skyline Champion by 2.7% during the second quarter. Penbrook Management LLC now owns 9,810 shares of the company’s stock worth $665,000 after buying an additional 260 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Skyline Champion by 0.9% during the third quarter. BNP Paribas Financial Markets now owns 33,894 shares of the company’s stock worth $3,215,000 after buying an additional 299 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Jefferies Financial Group boosted their target price on Skyline Champion from $79.00 to $86.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada boosted their price objective 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. Barclays raised their target price on shares of Skyline Champion from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Craig Hallum boosted their price target on shares of Skyline Champion from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded Skyline Champion from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. 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 company currently has a consensus rating of “Hold” and a consensus price target of $85.40.

Skyline Champion Stock Performance

Shares of SKY stock opened at $103.73 on Friday. The company has a fifty day moving average price of $94.89 and a two-hundred day moving average price of $84.19. Skyline Champion Co. has a one year low of $58.85 and a one year high of $107.26. The stock has a market cap of $5.95 billion, a P/E ratio of 40.05 and a beta of 1.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.42 and a quick ratio of 1.64.

Skyline Champion (NYSE:SKY) last issued its earnings results on Monday, October 28th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.32. The business had revenue of $616.88 million during the quarter, compared to the consensus estimate of $600.52 million. Skyline Champion had a net margin of 6.42% and a return on equity of 13.20%. Skyline Champion’s revenue was up 32.9% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. As a group, equities analysts predict that Skyline Champion Co. will post 3.43 EPS for the current year.

Insider Transactions at Skyline Champion

In other news, Director Mak Capital One Llc sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 2,716,500 shares in the company, valued at approximately $241,415,355. This trade represents a 1.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.90% of the stock is currently owned by corporate insiders.

Skyline Champion 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.