Hedge Fund Dumps Shares of Skyline-Champion, plus Manufactured Housing Stock Updates

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CNNmone3.14.2019ManufacturedHomeStocksMarketsReportsMHProNewsThe proverbial crystal ball has never worked, so it would be inaccurate to say that its broken. But trend-lines, a little logic, and track records can go a long way to reading tea leaves that could provide useful clues that might impact companies and stocks.  Tonight’s feature is a report from Financial Headlines, much of which was off-the-mark, but some of it was worth noting.  On a mixed day for the broader markets, and with more losers than gainers among manufactured home tracked stocks, what Financial Headlines said about Skyline Champion – and didn’t say – will be our featured focus this evening.

 

If you’re new, already hooked on our new spotlight feature – or are ready to get the MH professional fever – our headline report is found further belowafter the newsmaker bullets and major indexes closing tickers.

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The evolving Daily Business News market report sets the manufactured home industry’s stocks in the broader context of the overall markets.  Headlines – at home and abroad – often move the markets.  So, this is an example of “News through the lens of manufactured homes, and factory-built housing.” ©

Part of this unique evening feature provides headlines – from both sides of the left-right media divide – which saves busy readers time, while underscoring topics that may be moving investors, which in turn move the markets.

Readers say this is also a useful quick-review tool that saves researchers time in getting a handle of the manufactured housing industry, through the lens of publicly-traded stocks connected with the manufactured home industry.

This is an exclusive evening or nightly example of MH “Industry News, Tips and Views, Pros Can Use.” © It is fascinating to see just how similar, and different, these two lists of headlines can be.

Want to know more about the left-right media divide from third party research?  ICYMI – for those not familiar with the “Full Measure,” ‘left-center-right’ media chart, please click here.

CNNFoxNewsLeftRightMediaBiasDailyBusinessNewsMHproNEwsSharylAttkisson
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Today’s markets and stocks, at the closing bell…

 

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Today’s Big Movers

For all the scores and highlights on tracked manufactured home connected stocks today, see thBloomberg graphic, posted below.

Today’s MH Market Spotlight Report –

HedgeFundDumpsSharesSkylineChampionPlusManufacturedHousingStockUpdatesDailyBusinessNewsMHproNews

 

Some of the online ‘market reports’ – for whatever reasons – like the ones below are a mix of what is arguably junk mixed with useable nuggets of information.

They are mostly of necessity, backward looking.  So what happened in Q4, while interesting, may or may not reflect what happened today or more recently.

With those ‘stating the obvious’ points noted, this evening we’ll look at two serious moves, in the wrong direction for Skyline-Champion (NYSE:SKY).

First, the major pull quotes, and then some commentary.

 

LivesAdviceSKYchampionHOlerCenterbridgePartnersLPTrimmedPositionby29.23MillionShareValuesDeclined

Lives Centerbridge Partners Lp decreased its stake in Skyline Champion Corporation (SKY) by 31.63% based on its latest 2018Q4 regulatory filing with the SEC. Centerbridge Partners Lp sold 2.09 million shares as the company’s stock declined 5.55% while stock markets rallied. The hedge fund held 4.51M shares of the homebuilding company at the end of 2018Q4, valued at $66.30 million, down from 6.60 million at the end of the previous reported quarter. Centerbridge Partners Lp who had been investing in Skyline Champion Corporation for a number of months, seems to be less bullish one the $1.13 billion market cap company. The stock decreased 2.78% or $0.57 during the last trading session, reaching $19.95. About 463,122 shares traded. Skyline Champion Corporation (NYSEMKT:SKY) has risen 0.46% since March 14, 2018 and is uptrending. It has underperformed by 3.91% the S&P500. 

 

SankatyAdvisorsStatkeInSkylineChampionDecreased28.1MillionShareValuesDeclinedDailyBusinessNewsMHProNews

Sankaty Advisors Llc decreased its stake in Skyline Champion Corporation (SKY) by 29.6% based on its latest 2018Q4 regulatory filing with the SEC. Sankaty Advisors Llc sold 2.01M shares as the company’s stock declined 5.55% while stock markets rallied. The hedge fund held 4.79M shares of the homebuilding company at the end of 2018Q4, valued at $70.32M, down from 6.80M at the end of the previous reported quarter. Sankaty Advisors Llc who had been investing in Skyline Champion Corporation for a number of months, seems to be less bullish one the $1.16B market cap company.

The stock decreased 0.05% or $0.01 during the last trading session, reaching $20.52. About 292,223 shares traded. Skyline Champion Corporation (NYSEMKT:SKY) has risen 0.46% since March 13, 2018 and is uptrending.

It has underperformed by 3.91% the S&P500.

Some Historical SKY News:

02/05/2018 – Wells Capital Management Inc. Exits Position in Skyline;

SkylineManufacturedHousingIndustryDailyBusinessNewsMHProNews2019-03-14_1703_001

 

 

For balance, here is a broader sampling of headlines from today about SKY.

GoogleNewsSkylineChampion2019-03-14_1719DailyBusinessNewsMHProNews

 

2018-12-10_0947SkylineChampionLogoIRComplementaryManufacturingFootprintUSCanadaRetailLogisticsDailyBusinessNewsMHProNews-768x572

With that backdrop, what this longtime industry observer sees – and we have interest, insights, but no direct dog in the equities market hunt – is that many investors seem to have only a modest thought about how the controversy at Cavco could potentially spill over to some of the larger players at the Manufactured Housing Institute (MHI).

Antitrust interest in the U.S. is heating up, as several of our reports have tracked, especially over the last two years. It’s a thing in Europe too, where some observers say its been a stronger movement, and that the U.S. is playing catch up.

MHI puts out an antitrust statement at their meetings. While there is evidence and allegations from several mainstream sources, including a ground breaking report linked below, none of them have yet risen to the status of a formal case being announced.  Will such an announcement by DoJ, the FTC, or plaintiffs attorneys occur in 2019?  2020?  2021?

Time will tell, but linked below via the text image box shown are purported Exhibits 1, 2, and 3.

 

Bridging Gap$, Affordable Housing Solution Yields Higher Pay, More Wealth, But Corrupt, Rigged Billionaire’s Moat is Barrier – manufacturedhomelivingnews.com

America woke up today to division. But perhaps 75 percent (+/-) of the nation’s people could come together on a plan that demonstrably could do the following. Increase the U.S. Gross Domestic Product (GDP) by some $2 Trillion Annually, without new federal spending.

Perhaps more important to several MHI members, is once the shoe drops on allegations of antitrust activity among Berkshire Hathaway owned brands – and we believe that it is likely to occur, for reasons that will be covered in a future report that builds on the one above – the question then becomes, is there spillover effect to other larger players in the industry?  Recall that the SEC declined to confirm or deny that they are looking into antitrust concerns with respect to Cavco Industries, and their legal woes connected to Joe Stegmayer, former Cavco President but still MHI Chairman.

 

JoeStegmayerCavcoCVCOMIChairBrianMontgomeryHUDFHASameLandyUMHPresidentDailyBusinessNewsMHPronews-578x768

MHProNews has obtained some communications as news tips that reflect statements by Stegmayer that some may say makes his statements look more-weighty than his now reduced title at Cavco ought to reflect. Stegmayer’s historic ties to Clayton Homes are clear.

What may be a problem for some tracked stocks, could at the same time benefit others.

But perhaps the most heady consideration is MHI’s ongoing pattern of posturing efforts for growth, when they are doing – or not doing – common sense steps that arguably help some brands, while harming others.  See the related reports, for more details.

ManufacturedHomesAsPercentageofSinglefamilyHousingStartsDailyBusinessNewsMHProNewsSkylineChampionSKY780x943
The answer some in the industry give to the last question n the red box above is market rigging. Those allegations routinely involve MHI in some form or fashion. If so, that’s a potential risk for spillover effects beyond the company(ies) most commonly mentioned.

Bottom line for tonight.  The industry is under-performing. SKY’s own graphic above says as much. The national association that claims to represent ‘all segments of factory-built housing’ has been rebuked by both an independent producers association, a newly emerging community association, and several of their own members and staff, past and present.

The hubris at MHI is breathtaking, but they apparently feel confident that they won’t get ‘caught’ with a hand in the cookie jar.  The better question is, hasn’t enough information already emerged to reflect that their hands have titled the scales already in a ways that have rigged the markets? Doesn’t that potentially impact the values of MHI member stocks?

Those are the questions that shareholders and other plaintiffs’ attorneys and corporate suits are/will be sorting through.  See the related reports, just below.

Related Reports:

Tim Williams, PBS News’ Bad Bargain, Manufactured Housing Institute, Buffett’s Mirror, and Clayton’s Costume

https://manufacturedhomepronews.com/masthead/tonykovach/warren-kicked-hornets-nest-how-move-may-connect-with-mh-renters-professionals/

https://manufacturedhomepronews.com/masthead/warren-buffetts-moat-understanding-manufactured-housing-requires-grasping-strategic-economic-moats/

Investors, Professionals, Planners, Advocates – Examining Affordable Manufactured Home Industry Market Potential

DTS Manufactured Home Lending Committee Member Says MHI in “Unholy Alliance” to Divert Needed GSE Support Away from Manufactured Housing

Warren Buffet’s Quotable Quotes on Business, Institutions, Behavior, and News Reporting

HUD, Census Bureau Releases Mainstream January 2019 Housing Starts Data, How Does Manufactured Housing Compare?

Anti-Monopolistic or “Antitrust” Action Heating Up in Washington, D.C., What It Could Foreshadow for MHVille

MHI’s Growth Agenda? Rick Robinson, JD, SVP Manufactured Housing Institute, Preemption Evidence, Writ of Mandamus, and Addressing HUD Code Manufactured Home Shipment Woes

Bloomberg Closing Ticker for MHProNews…

NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services.

NOTE: The chart below covers a number of stocks NOT reflected in the Yahoo MHCV, shown above.

NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).

 

3.14.2019DailyBusinessNewsManufacturedHousingConnectedMarketReportsBloombergMHProNews

Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers.

LCI Industries, Patrick, UFPI and LP all supply manufactured housing.

AMG, CG and TAVFX have investments in manufactured housing related businesses.

Your link to industry praise for our coverage, is found here.

For the examples of our kudos linked above…plus well over 1,000 positive, public comments, we say – “Thank You for your vote of confidence.”

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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.