Skyline Co. (SKY) Short Interest Update

Skyline Co. (NYSEAMERICAN:SKY) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 2,087,407 shares, a decline of 36.3% from the February 28th total of 3,277,158 shares. Approximately 3.9% of the company’s shares are sold short. Based on an average trading volume of 760,856 shares, the short-interest ratio is presently 2.7 days.

Several analysts have commented on SKY shares. Zacks Investment Research cut shares of Skyline from a “hold” rating to a “sell” rating in a research report on Tuesday, January 1st. SunTrust Banks raised shares of Skyline from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Thursday, January 31st. Finally, Craig Hallum reissued a “buy” rating and issued a $30.00 price target (down previously from $37.00) on shares of Skyline in a report on Thursday, February 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $27.43.

Shares of SKY stock opened at $20.16 on Thursday. Skyline has a 12-month low of $12.72 and a 12-month high of $35.65.

Skyline (NYSEAMERICAN:SKY) last announced its quarterly earnings results on Tuesday, February 5th. The construction company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $354.67 million during the quarter, compared to analyst estimates of $346.65 million.

In other Skyline news, SVP Roger K. Scholten sold 4,394 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $22.05, for a total transaction of $96,887.70. Following the completion of the sale, the senior vice president now owns 197,388 shares in the company, valued at approximately $4,352,405.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mak Capital One Llc sold 1,500,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $20.21, for a total transaction of $30,315,000.00. The disclosure for this sale can be found here.

Several hedge funds have recently made changes to their positions in SKY. Citigroup Inc. boosted its stake in Skyline by 5.1% in the 4th quarter. Citigroup Inc. now owns 11,035 shares of the construction company’s stock worth $161,000 after purchasing an additional 538 shares during the period. Legal & General Group Plc boosted its stake in Skyline by 19.4% in the 4th quarter. Legal & General Group Plc now owns 5,144 shares of the construction company’s stock worth $75,000 after purchasing an additional 837 shares during the period. OMERS ADMINISTRATION Corp boosted its stake in Skyline by 7.7% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 22,300 shares of the construction company’s stock worth $328,000 after purchasing an additional 1,600 shares during the period. Barclays PLC boosted its stake in Skyline by 7.7% in the 4th quarter. Barclays PLC now owns 23,292 shares of the construction company’s stock worth $342,000 after purchasing an additional 1,659 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Skyline in the 4th quarter worth $28,000.

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Skyline Company Profile

Skyline Corporation designs, produces, and markets manufactured housing, modular housing, and park models to independent dealers and manufactured housing communities in the United States and Canada. The company's manufactured housing models include two to four bedrooms, kitchen, dining area, living room, one or two bathrooms, kitchen appliances, and central heating and cooling products, as well as exterior dormers and windows, interior or exterior accent columns, fireplaces, and whirlpool tubs.

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