Insider Selling: Skyline Co. (SKY) SVP Sells 5,329 Shares of Stock

Skyline Co. (NYSEAMERICAN:SKY) SVP Roger K. Scholten sold 5,329 shares of Skyline stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $22.02, for a total value of $117,344.58. Following the transaction, the senior vice president now owns 186,782 shares in the company, valued at $4,112,939.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of SKY traded down $0.97 during midday trading on Monday, hitting $20.98. The stock had a trading volume of 277,774 shares, compared to its average volume of 635,816. Skyline Co. has a twelve month low of $12.72 and a twelve month high of $35.65.

Several research firms have issued reports on SKY. 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. Craig Hallum reissued 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, Zacks Investment Research downgraded Skyline from a “buy” rating to a “hold” rating in a research note on Saturday, February 16th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $27.57.

Large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. increased its position in shares of Skyline by 39.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 1,872 shares of the construction company’s stock valued at $36,000 after acquiring an additional 532 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Skyline in the fourth quarter valued at about $28,000. New York State Teachers Retirement System acquired a new stake in shares of Skyline in the first quarter valued at about $48,000. Great West Life Assurance Co. Can acquired a new stake in shares of Skyline in the fourth quarter valued at about $36,000. Finally, Legal & General Group Plc increased its position in shares of Skyline by 317.7% in the third quarter. Legal & General Group Plc now owns 4,307 shares of the construction company’s stock valued at $123,000 after acquiring an additional 3,276 shares during the last quarter.

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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.

Further Reading: When is a capital gain realized?

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

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