Rice Hall James & Associates LLC bought a new stake in shares of Skyline Co. (NYSEAMERICAN:SKY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 336,600 shares of the construction company’s stock, valued at approximately $9,216,000. Rice Hall James & Associates LLC owned about 0.59% of Skyline at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Advisor Group Inc. boosted its stake in shares of Skyline by 99.1% in the 2nd quarter. Advisor Group Inc. now owns 1,734 shares of the construction company’s stock worth $48,000 after buying an additional 863 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Skyline by 39.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,872 shares of the construction company’s stock worth $36,000 after buying an additional 532 shares during the last quarter. New York State Teachers Retirement System purchased a new position in shares of Skyline in the 1st quarter worth $48,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Skyline by 81.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,412 shares of the construction company’s stock worth $93,000 after buying an additional 1,534 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Skyline by 40.7% in the 1st quarter. Victory Capital Management Inc. now owns 4,307 shares of the construction company’s stock worth $82,000 after buying an additional 1,246 shares during the last quarter.
In other news, EVP Jonathan Wade Lyall sold 3,500 shares of Skyline stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $30.30, for a total value of $106,050.00. Following the sale, the executive vice president now directly owns 59,506 shares of the company’s stock, valued at $1,803,031.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy A. Burkhardt sold 4,889 shares of Skyline stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $25.14, for a total value of $122,909.46. Following the completion of the sale, the vice president now directly owns 60,736 shares in the company, valued at $1,526,903.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,406,039 shares of company stock worth $36,202,843.
NYSEAMERICAN SKY traded down $0.07 on Thursday, hitting $29.45. 2,000 shares of the company traded hands, compared to its average volume of 617,287. Skyline Co. has a 52-week low of $12.72 and a 52-week high of $32.44.
Skyline (NYSEAMERICAN:SKY) last posted its quarterly earnings results on Wednesday, July 31st. The construction company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.07. The business had revenue of $372.00 million for the quarter, compared to the consensus estimate of $356.76 million. Skyline’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share.
SKY has been the topic of several analyst reports. Zacks Investment Research upgraded Skyline from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a research report on Saturday, August 3rd. Royal Bank of Canada set a $28.00 target price on Skyline and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Barclays reiterated a “buy” rating and set a $34.00 target price on shares of Skyline in a research report on Sunday, August 4th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $30.00.
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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