Kornitzer Capital Management Inc. KS Purchases New Shares in Skyline Champion Co. (NYSE:SKY)

Kornitzer Capital Management Inc. KS purchased a new stake in shares of Skyline Champion Co. (NYSE:SKY) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 153,285 shares of the company’s stock, valued at approximately $11,383,000. Kornitzer Capital Management Inc. KS owned 0.27% of Skyline Champion as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB purchased a new stake in Skyline Champion during the 4th quarter valued at $4,775,000. Mutual of America Capital Management LLC grew its position in Skyline Champion by 106.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 85,986 shares of the company’s stock valued at $6,385,000 after acquiring an additional 44,276 shares during the last quarter. Cerity Partners LLC grew its position in Skyline Champion by 1,363.7% in the 4th quarter. Cerity Partners LLC now owns 81,293 shares of the company’s stock valued at $6,037,000 after acquiring an additional 75,739 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Skyline Champion by 16.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 703,157 shares of the company’s stock valued at $52,217,000 after acquiring an additional 101,265 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in Skyline Champion by 19.1% in the 3rd quarter. William Blair Investment Management LLC now owns 1,112,034 shares of the company’s stock valued at $70,859,000 after acquiring an additional 178,099 shares during the last quarter.

Skyline Champion Stock Up 2.4 %

Shares of SKY traded up $1.78 during midday trading on Friday, reaching $75.14. 284,889 shares of the stock were exchanged, compared to its average volume of 253,849. Skyline Champion Co. has a 52 week low of $52.12 and a 52 week high of $86.71. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $81.36 and its two-hundred day moving average is $71.06. The company has a market capitalization of $4.34 billion, a P/E ratio of 21.53 and a beta of 1.53.

Skyline Champion (NYSE:SKY) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The firm had revenue of $559.46 million during the quarter, compared to analysts’ expectations of $505.20 million. Skyline Champion had a return on equity of 15.45% and a net margin of 10.19%. On average, sell-side analysts anticipate that Skyline Champion Co. will post 3.19 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank of Canada upped their price objective on Skyline Champion from $69.00 to $73.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 7th. Wedbush reaffirmed a “neutral” rating and issued a $72.00 price objective on shares of Skyline Champion in a research report on Tuesday, February 6th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Skyline Champion currently has an average rating of “Hold” and an average price target of $71.40.

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.