Wasatch Advisors Inc. bought a new position in shares of Skyline Co. (NYSEAMERICAN:SKY) during the first quarter, HoldingsChannel reports. The institutional investor bought 466,185 shares of the construction company’s stock, valued at approximately $8,858,000.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Skyline by 196.0% during the third quarter. Vanguard Group Inc. now owns 970,946 shares of the construction company’s stock worth $27,740,000 after purchasing an additional 642,938 shares during the period. NJ State Employees Deferred Compensation Plan raised its holdings in shares of Skyline by 312.5% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 33,000 shares of the construction company’s stock worth $485,000 after purchasing an additional 25,000 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Skyline during the fourth quarter worth $146,000. Teachers Advisors LLC raised its holdings in shares of Skyline by 814.1% during the third quarter. Teachers Advisors LLC now owns 79,984 shares of the construction company’s stock worth $2,285,000 after purchasing an additional 71,234 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of Skyline during the fourth quarter worth $1,249,000.
Several research firms have recently commented on SKY. SunTrust Banks upgraded shares of Skyline from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Thursday, January 31st. Craig Hallum restated a “buy” rating and set a $30.00 price target (down previously from $37.00) on shares of Skyline in a research report on Thursday, February 7th. Zacks Investment Research lowered shares of Skyline from a “buy” rating to a “hold” rating in a research report on Saturday, February 16th. Finally, Royal Bank of Canada set a $28.00 price target on shares of Skyline and gave the stock a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $26.71.
Shares of Skyline stock traded up $0.60 during trading on Friday, hitting $25.55. 14,688 shares of the stock were exchanged, compared to its average volume of 646,082. Skyline Co. has a 12 month low of $12.72 and a 12 month high of $35.65.
Skyline (NYSEAMERICAN:SKY) last released its quarterly earnings results on Tuesday, May 21st. The construction company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. The firm had revenue of $327.68 million for the quarter, compared to the consensus estimate of $348.50 million.
In related news, SVP Roger K. Scholten sold 5,329 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $22.02, for a total value of $117,344.58. Following the completion of the transaction, the senior vice president now owns 186,782 shares in the company, valued at approximately $4,112,939.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mak Capital One Llc sold 1,500,000 shares of the stock in a transaction dated 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. Insiders sold a total of 1,509,723 shares of company stock valued at $30,529,232 in the last quarter.
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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