Rice Hall James & Associates LLC purchased a new stake in Skyline Co. (NYSEAMERICAN:SKY) in the second quarter, Holdings Channel reports. The firm purchased 336,600 shares of the construction company’s stock, valued at approximately $9,216,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SKY. Oppenheimer Asset Management Inc. raised its stake in Skyline by 39.7% in the first 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 in the last quarter. New York State Teachers Retirement System bought a new position in Skyline in the first quarter worth approximately $48,000. Advisor Group Inc. raised its stake in Skyline by 99.1% in the second quarter. Advisor Group Inc. now owns 1,734 shares of the construction company’s stock worth $48,000 after buying an additional 863 shares in the last quarter. Legal & General Group Plc raised its stake in Skyline by 19.4% in the fourth quarter. Legal & General Group Plc now owns 5,144 shares of the construction company’s stock worth $75,000 after buying an additional 837 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Skyline by 40.7% in the first 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 in the last quarter.
NYSEAMERICAN:SKY traded down $0.07 during trading hours on Thursday, reaching $29.45. The company’s stock had a trading volume of 2,000 shares, compared to its average volume of 617,287. Skyline Co. has a 12 month low of $12.72 and a 12 month high of $32.44.
In other news, VP Timothy A. Burkhardt sold 4,889 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $25.14, for a total transaction of $122,909.46. Following the transaction, the vice president now directly owns 60,736 shares of the company’s stock, valued at $1,526,903.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Roger K. Scholten sold 5,329 shares of the company’s stock in a transaction on 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 directly owns 186,782 shares in the company, valued at $4,112,939.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,406,039 shares of company stock worth $36,202,843.
A number of equities analysts recently commented on the stock. Barclays reissued a “buy” rating and issued a $34.00 price objective on shares of Skyline in a research note on Sunday, August 4th. Zacks Investment Research raised shares of Skyline from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research note on Saturday, August 3rd. Finally, Royal Bank of Canada set a $28.00 price objective on shares of Skyline and gave the stock a “buy” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target 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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