Macquarie Group Ltd. Reduces Stake in Skyline Champion Co.

Macquarie Group Ltd. has recently reduced its stake in Skyline Champion Co. by 20.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. This move resulted in the fund owning 30,465 shares of Skyline Champion’s stock after selling 7,593 shares during the period. Macquarie Group Ltd. now owns 0.05% of the company, worth $2,292,000 as of its most recent SEC filing.

Other hedge funds have also taken action with their stakes in the stock. For example, Toroso Investments LLC purchased a new position in Skyline Champion in the first quarter with a value of approximately $613,000. JPMorgan Chase & Co. increased its stake in the company by 8.8% during the same period, now owning 113,119 shares valued at $8,509,000. B. Riley Wealth Advisors Inc. also purchased a new position in Skyline Champion with a value of around $206,000. Thrivent Financial for Lutherans increased its stake in the company by 230.9% during the first quarter, now owning 1,119,551 shares valued at $84,224,000. Lastly, Susquehanna Fundamental Investments LLC purchased a new position in Skyline Champion in the first quarter with a value of approximately $289,000.

Skyline Champion has received several ratings from brokerages recently. For instance, issued a “hold” rating on the stock. Craig Hallum raised their target price on Skyline Champion from $75.00 to $81.00 and gave the stock a “buy” rating. Jefferies Financial Group raised their target price on the stock from $61.00 to $62.00 with a “hold” rating. Wedbush restated an “outperform” rating and set a $78.00 target price. Royal Bank of Canada also raised their target price from $62.00 to $68.00 with a “sector perform” rating. In total, four equities research analysts have rated the stock as a hold while two have assigned a buy rating. The consensus rating currently stands as “hold” with a consensus target price of $69.80.

Skyline Champion Co. opened at $68.37 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.39, and a quick ratio of 3.59. The stock has a fifty-day moving average price of $68.16 and a 200-day moving average price of $67.89. Skyline Champion has a 1-year low of $44.68 and a 1-year high of $76.82. The company has a market cap of $3.91 billion, a PE ratio of 11.71, and a beta of 1.71.

Skyline Champion recently published its earnings results for the quarter ending August 1st. The company reported earnings per share (EPS) of $0.89, beating analysts’ consensus estimates of $0.78 by $0.11. Skyline Champion’s return on equity was 28.09% and its net margin was 14.32%. The company had revenue of $464.77 million during the quarter, compared to the consensus estimate of $463.48 million. However, the company’s quarterly revenue was down 36.0% compared to the same quarter last year. Sell-side analysts are forecasting that Skyline Champion will post 3.67 EPS for the current year.

In terms of insider buying and selling, there have been recent transactions. VP Timothy A. Burkhardt sold 4,113 shares of the firm’s stock on September 14th, with an average price of $71.04, totaling $292,187.52. Following the sale, Burkhardt now owns 34,855 shares of the company, valued at $2,476,099.20. Director Keith A. Anderson also sold 5,000 shares of the firm’s stock on September 1st, at an average price of $73.26, resulting in a total value of $366,300.00.

Skyline Champion Corporation is a producer and seller of 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. Skyline Champion builds homes under various brand names, such as Skyline Homes, Champion Home Builders, Genesis Homes, and more.

Sources: MarketBeat,