Great West Life Assurance Co. Can Acquires New Position in Skyline Co. (SKY)
Great West Life Assurance Co. Can acquired a new stake in shares of Skyline Co. (NYSEAMERICAN:SKY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,513 shares of the construction company’s stock, valued at approximately $36,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SKY. JPMorgan Chase & Co. boosted its stake in Skyline by 809.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,319 shares of the construction company’s stock valued at $1,180,000 after acquiring an additional 36,776 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Skyline by 113.4% in the 3rd quarter. Rhumbline Advisers now owns 17,625 shares of the construction company’s stock worth $504,000 after buying an additional 9,366 shares during the last quarter. Alliancebernstein L.P. bought a new position in shares of Skyline in the 3rd quarter worth about $520,000. Bank of New York Mellon Corp lifted its position in shares of Skyline by 243.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 65,742 shares of the construction company’s stock worth $1,879,000 after buying an additional 46,614 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Skyline by 200.8% in the 3rd quarter. BlackRock Inc. now owns 1,562,896 shares of the construction company’s stock worth $44,651,000 after buying an additional 1,043,297 shares during the last quarter.
A number of research analysts have recently issued reports on SKY shares. Zacks Investment Research downgraded shares of Skyline from a “hold” rating to a “sell” rating in a research report on Tuesday, January 1st. SunTrust Banks upgraded shares of Skyline from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Thursday, January 31st. Craig Hallum restated a “buy” rating and issued a $30.00 price target (down from $37.00) on shares of Skyline in a research report on Thursday, February 7th. Finally, Barclays set a $23.00 price target on shares of Skyline and gave the stock a “buy” rating in a research report on Wednesday, December 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.57.
Skyline (NYSEAMERICAN:SKY) last issued its quarterly earnings data on Tuesday, February 5th. The construction company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The firm had revenue of $354.67 million during the quarter, compared to the consensus estimate of $346.65 million.
In other Skyline news, insider Mak Capital One Llc sold 1,500,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $20.21, for a total transaction of $30,315,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Roger K. Scholten sold 4,394 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $22.05, for a total transaction of $96,887.70. Following the transaction, the senior vice president now directly owns 197,388 shares in the company, valued at approximately $4,352,405.40. The disclosure for this sale can be found here.
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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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