Skyline Co. (SKY) Insider Centerbridge Capital Partners Sells 262,500 Shares

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Skyline Co. (NYSEAMERICAN:SKY) insider Centerbridge Capital Partners sold 262,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 5th. The stock was sold at an average price of $21.80, for a total value of $5,722,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of SKY traded down $0.68 during mid-day trading on Friday, reaching $17.62. The company had a trading volume of 1,359,103 shares, compared to its average volume of 322,622. Skyline Co. has a twelve month low of $12.02 and a twelve month high of $35.65.

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

Several institutional investors and hedge funds have recently modified their holdings of SKY. Mak Capital One LLC acquired a new position in shares of Skyline in the 2nd quarter worth approximately $478,443,000. Wells Fargo & Company MN increased its holdings in Skyline by 1,097.1% during the 3rd quarter. Wells Fargo & Company MN now owns 1,578,346 shares of the construction company’s stock valued at $45,093,000 after purchasing an additional 1,446,494 shares in the last quarter. BlackRock Inc. increased its holdings in Skyline by 200.8% during the 3rd quarter. BlackRock Inc. now owns 1,562,896 shares of the construction company’s stock valued at $44,651,000 after purchasing an additional 1,043,297 shares in the last quarter. FMR LLC increased its holdings in Skyline by 656.9% during the 3rd quarter. FMR LLC now owns 1,052,297 shares of the construction company’s stock valued at $30,064,000 after purchasing an additional 913,272 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Skyline by 196.0% during the 3rd quarter. Vanguard Group Inc. now owns 970,946 shares of the construction company’s stock valued at $27,740,000 after purchasing an additional 642,938 shares in the last quarter.

A number of analysts have commented on SKY shares. Royal Bank of Canada started coverage on Skyline in a research report on Tuesday, August 28th. They issued an “outperform” rating and a $33.00 price objective for the company. Zacks Investment Research downgraded Skyline from a “hold” rating to a “sell” rating in a research report on Thursday, November 29th. Barclays started coverage on Skyline in a research report on Tuesday, October 2nd. They issued an “overweight” rating and a $35.00 price objective for the company. Jefferies Financial Group started coverage on Skyline in a research report on Friday, September 7th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, SunTrust Banks started coverage on Skyline in a research report on Tuesday, September 4th. They issued a “hold” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Skyline currently has an average rating of “Hold” and an average price target of $32.83.

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About Skyline

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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