Insider Selling: Skyline Co. (SKY) CEO Sells 82,799 Shares of Stock

Skyline Co. (NYSEAMERICAN:SKY) CEO Keith A. Anderson sold 82,799 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $24.01, for a total value of $1,988,003.99. Following the completion of the transaction, the chief executive officer now directly owns 1,312,846 shares in the company, valued at approximately $31,521,432.46. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

SKY traded up $0.65 during mid-day trading on Friday, hitting $25.60. 835,741 shares of the stock were exchanged, compared to its average volume of 651,307. Skyline Co. has a 1-year low of $12.72 and a 1-year high of $35.65.

Skyline (NYSEAMERICAN:SKY) last posted its earnings results on Tuesday, May 21st. The construction company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The firm had revenue of $327.68 million for the quarter, compared to analyst estimates of $348.50 million.



A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in Skyline by 0.4% during the 1st quarter. Wellington Management Group LLP now owns 7,928,629 shares of the construction company’s stock worth $150,644,000 after acquiring an additional 33,924 shares in the last quarter. BlackRock Inc. increased its holdings in Skyline by 30.1% during the 1st quarter. BlackRock Inc. now owns 3,142,719 shares of the construction company’s stock worth $59,711,000 after purchasing an additional 727,027 shares during the period. FMR LLC increased its holdings in Skyline by 4.7% during the 1st quarter. FMR LLC now owns 2,323,264 shares of the construction company’s stock worth $44,142,000 after purchasing an additional 105,135 shares during the period. Wells Fargo & Company MN increased its holdings in Skyline by 13.3% during the 1st quarter. Wells Fargo & Company MN now owns 2,147,560 shares of the construction company’s stock worth $40,804,000 after purchasing an additional 251,632 shares during the period. Finally, Marshall Wace LLP increased its holdings in Skyline by 2,307.1% during the 1st quarter. Marshall Wace LLP now owns 1,133,725 shares of the construction company’s stock worth $21,540,000 after purchasing an additional 1,086,625 shares during the period.

Several equities analysts have recently commented on SKY shares. Zacks Investment Research raised Skyline from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, February 12th. Royal Bank of Canada set a $28.00 price target on Skyline and gave the company a “buy” rating in a research note on Thursday. Craig Hallum reaffirmed a “buy” rating and issued a $30.00 price target (down previously from $37.00) on shares of Skyline in a research note on Thursday, February 7th. Finally, SunTrust Banks raised Skyline from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Thursday, January 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Skyline currently has a consensus rating of “Buy” and a consensus price target of $26.71.

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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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Insider Buying and Selling by Quarter for Skyline (NYSEAMERICAN:SKY)

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