Laurion Capital Management LP Acquires Shares of 260,273 Skyline Co. (SKY)

Laurion Capital Management LP acquired a new position in shares of Skyline Co. (NYSEAMERICAN:SKY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 260,273 shares of the construction company’s stock, valued at approximately $7,436,000.

Several other hedge funds have also recently modified their holdings of the business. EAM Investors LLC boosted its stake in shares of Skyline by 98.9% during the second quarter. EAM Investors LLC now owns 66,189 shares of the construction company’s stock worth $2,319,000 after buying an additional 32,919 shares during the period. EAM Global Investors LLC acquired a new stake in shares of Skyline during the second quarter worth about $1,484,000. Rhumbline Advisers acquired a new stake in shares of Skyline during the second quarter worth about $289,000. Bank of New York Mellon Corp acquired a new stake in shares of Skyline during the second quarter worth about $670,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Skyline during the second quarter worth about $519,000.

In other news, CEO Keith A. Anderson sold 89,378 shares of Skyline stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $29.25, for a total transaction of $2,614,306.50. Following the completion of the sale, the chief executive officer now directly owns 1,281,596 shares in the company, valued at approximately $37,486,683. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Roger K. Scholten sold 12,373 shares of Skyline stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $29.25, for a total transaction of $361,910.25. Following the sale, the senior vice president now owns 177,407 shares of the company’s stock, valued at $5,189,154.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,392,729 shares of company stock valued at $273,608,869.

Shares of NYSEAMERICAN:SKY opened at $18.30 on Friday. Skyline Co. has a 52 week low of $12.02 and a 52 week high of $35.65.

Skyline (NYSEAMERICAN:SKY) last announced its quarterly earnings data on Monday, November 5th. The construction company reported $0.23 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.23. The firm had revenue of $355.44 million during the quarter, compared to analyst estimates of $368.20 million.

Several equities research analysts have recently weighed in on SKY shares. Royal Bank of Canada set a $34.00 target price on shares of Skyline and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Jefferies Financial Group started coverage on shares of Skyline in a research note on Friday, September 7th. They set a “buy” rating and a $36.00 target price for the company. SunTrust Banks started coverage on shares of Skyline in a research note on Tuesday, September 4th. They set a “hold” rating and a $30.00 target price for the company. Credit Suisse Group started coverage on shares of Skyline in a research note on Thursday, November 29th. They set a “neutral” rating and a $25.00 target price for the company. Finally, Barclays started coverage on shares of Skyline in a research note on Tuesday, October 2nd. They set an “overweight” rating and a $35.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Skyline currently has an average rating of “Hold” and a consensus target price of $32.83.

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Skyline 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.

Further Reading: Consumer Price Index (CPI)

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Institutional Ownership by Quarter for Skyline (NYSEAMERICAN:SKY)

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