Skyline Sees Unusually Large Options Volume (SKY)
Skyline Co. (NYSEAMERICAN:SKY) saw some unusual options trading on Wednesday. Investors purchased 2,972 call options on the stock. This is an increase of 5,207% compared to the average volume of 56 call options.
Several brokerages recently issued reports on SKY. Royal Bank of Canada set a $34.00 target price on Skyline and gave the company a “buy” rating in a research report on Wednesday, November 7th. Zacks Investment Research lowered Skyline from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Credit Suisse Group initiated coverage on Skyline in a research note on Thursday, November 29th. They set a “neutral” rating and a $25.00 price target on the stock. SunTrust Banks upgraded 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. Finally, Barclays set a $23.00 price target on Skyline and gave the company a “buy” rating in a research note on Wednesday, December 12th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $28.14.
Skyline stock opened at $19.62 on Thursday. Skyline has a fifty-two week low of $12.72 and a fifty-two week high of $35.65.
In related news, major shareholder Mak Capital One Llc sold 1,000,000 shares of the company’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $21.80, for a total transaction of $21,800,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bain Capital Credit Member, Ll sold 1,750,000 shares of the company’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $21.80, for a total value of $38,150,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,012,500 shares of company stock worth $65,672,500 over the last ninety days.
A number of institutional investors have recently bought and sold shares of SKY. Laurion Capital Management LP purchased a new stake in shares of Skyline in the third quarter worth about $7,436,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Skyline in the third quarter worth about $374,000. BlackRock Inc. boosted its stake in shares of Skyline by 200.8% in the third 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. NJ State Employees Deferred Compensation Plan boosted its stake in shares of Skyline by 312.5% in the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 33,000 shares of the construction company’s stock worth $485,000 after buying an additional 25,000 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Skyline in the third quarter worth about $10,000,000.
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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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