Skyline Co. (SKY) Sees Large Growth in Short Interest

Skyline Co. (NYSEAMERICAN:SKY) was the recipient of 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 sold short. Based on an average daily volume of 82,905 shares, the days-to-cover ratio is presently 4.0 days.

Shares of Skyline (NYSEAMERICAN SKY) traded up $0.18 during mid-day trading on Friday, hitting $21.47. The company’s stock had a trading volume of 96,944 shares, compared to its average volume of 134,441. Skyline has a twelve month low of $5.07 and a twelve month high of $24.99. The stock has a market cap of $182.59, a PE ratio of 42.94 and a beta of 2.27.

In other Skyline news, major shareholder Jeffrey L. Et Al Gendell acquired 40,020 shares of the business’s stock in a transaction on Friday, January 5th. The shares were bought at an average price of $16.87 per share, with a total value of $675,137.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jeffrey L. Et Al Gendell acquired 48,966 shares of the business’s stock in a transaction on Monday, January 8th. The stock was acquired at an average cost of $16.99 per share, for a total transaction of $831,932.34. The disclosure for this purchase can be found here.

Several hedge funds have recently modified their holdings of the business. Northern Trust Corp lifted its holdings in shares of Skyline by 3.7% in the 2nd quarter. Northern Trust Corp now owns 20,603 shares of the construction company’s stock worth $124,000 after buying an additional 732 shares during the period. Teton Advisors Inc. lifted its holdings in shares of Skyline by 9.2% in the 4th quarter. Teton Advisors Inc. now owns 98,500 shares of the construction company’s stock worth $1,266,000 after buying an additional 8,328 shares during the period. OxFORD Asset Management LLP purchased a new stake in shares of Skyline during the 3rd quarter worth $120,000. Edge Wealth Management LLC purchased a new stake in shares of Skyline during the 3rd quarter worth $132,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Skyline by 2.2% during the 4th quarter. Wells Fargo & Company MN now owns 585,865 shares of the construction company’s stock worth $7,528,000 after purchasing an additional 12,669 shares during the last quarter.

Separately, TheStreet upgraded Skyline from a “c” rating to a “b-” rating in a report on Wednesday, January 17th.

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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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