Skyline Co. (SKY) Sees Large Increase in Short Interest

Skyline Co. (NYSEAMERICAN:SKY) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 3,277,158 shares, a growth of 51.8% from the February 15th total of 2,159,432 shares. Based on an average daily volume of 1,413,084 shares, the days-to-cover ratio is currently 2.3 days. Currently, 6.2% of the company’s stock are short sold.

In related news, SVP Roger K. Scholten sold 4,394 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 197,388 shares in the company, valued at $4,352,405.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mak Capital One Llc sold 1,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was 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.

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Skyline by 167.8% in the fourth quarter. Geode Capital Management LLC now owns 375,681 shares of the construction company’s stock valued at $5,518,000 after acquiring an additional 235,422 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Skyline by 96.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 786,639 shares of the construction company’s stock valued at $11,555,000 after acquiring an additional 385,314 shares during the period. FMR LLC boosted its holdings in shares of Skyline by 110.8% in the fourth quarter. FMR LLC now owns 2,218,129 shares of the construction company’s stock valued at $32,584,000 after acquiring an additional 1,165,832 shares during the period. Legal & General Group Plc boosted its holdings in shares of Skyline by 19.4% in the fourth quarter. Legal & General Group Plc now owns 5,144 shares of the construction company’s stock valued at $75,000 after acquiring an additional 837 shares during the period. Finally, Robotti Robert boosted its holdings in shares of Skyline by 67.5% in the fourth quarter. Robotti Robert now owns 259,940 shares of the construction company’s stock valued at $3,819,000 after acquiring an additional 104,740 shares during the period.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Skyline from a “hold” rating to a “sell” rating in a research note on Thursday, November 29th. Credit Suisse Group assumed coverage on shares of Skyline in a research note on Thursday, November 29th. They set a “neutral” rating and a $25.00 target price on the stock. Craig Hallum restated a “buy” rating and set a $30.00 target price (down from $37.00) on shares of Skyline in a research note on Thursday, February 7th. SunTrust Banks upgraded shares of Skyline from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Thursday, January 31st. Finally, Barclays set a $23.00 target price on shares of Skyline and gave the stock a “buy” rating in a research note on Wednesday, December 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $27.43.

Shares of Skyline stock opened at $19.46 on Monday. Skyline has a 52 week low of $12.72 and a 52 week high of $35.65.

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

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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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