Short Interest in Skyline Co. (SKY) Increases By 49.4%
Skyline Co. (NYSEAMERICAN:SKY) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 332,825 shares, an increase of 49.4% from the January 12th total of 222,782 shares. Currently, 4.8% of the company’s shares are short sold. Based on an average daily volume of 82,905 shares, the days-to-cover ratio is currently 4.0 days.
Skyline (NYSEAMERICAN SKY) opened at $21.47 on Monday. The stock has a market cap of $181.68, a price-to-earnings ratio of 42.94 and a beta of 2.27. Skyline has a 12 month low of $5.07 and a 12 month high of $24.99.
Skyline (NYSEAMERICAN:SKY) last issued its earnings results on Thursday, January 11th. The construction company reported $0.26 earnings per share (EPS) for the quarter. The business had revenue of $57.77 million for the quarter. Skyline had a net margin of 5.13% and a return on equity of 41.72%.
In related news, major shareholder Jeffrey L. Et Al Gendell bought 48,966 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were acquired at an average cost of $16.99 per share, with a total value of $831,932.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jeffrey L. Et Al Gendell bought 40,020 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were bought at an average cost of $16.87 per share, for a total transaction of $675,137.40. The disclosure for this purchase can be found here.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp boosted its stake in Skyline by 3.7% during the second quarter. Northern Trust Corp now owns 20,603 shares of the construction company’s stock worth $124,000 after acquiring an additional 732 shares in the last quarter. Teton Advisors Inc. boosted its stake in Skyline by 9.2% during the fourth quarter. Teton Advisors Inc. now owns 98,500 shares of the construction company’s stock worth $1,266,000 after acquiring an additional 8,328 shares in the last quarter. OxFORD Asset Management LLP bought a new position in Skyline during the third quarter worth $120,000. Edge Wealth Management LLC bought a new position in Skyline during the third quarter worth $132,000. Finally, Wells Fargo & Company MN boosted its stake in Skyline by 2.2% during the fourth quarter. Wells Fargo & Company MN now owns 585,865 shares of the construction company’s stock worth $7,528,000 after acquiring an additional 12,669 shares in the last quarter.
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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 located throughout the United States and Canada. As of May 31, 2016, the Company sold 3,217 manufactured homes, 360 modular homes and 337 park models.
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