Skyline Target of Unusually Large Options Trading (NYSEAMERICAN:SKY)

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Skyline Co. (NYSEAMERICAN:SKY) was the recipient of some unusual options trading activity on Thursday. Investors acquired 1,606 call options on the company. This represents an increase of approximately 1,015% compared to the average daily volume of 144 call options.

In related news, CFO Laurie M. Hough sold 41,222 shares of Skyline stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $30.50, for a total value of $1,257,271.00. Following the completion of the transaction, the chief financial officer now owns 170,228 shares in the company, valued at $5,191,954. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark J. Yost sold 16,500 shares of Skyline stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $27.21, for a total transaction of $448,965.00. Following the completion of the transaction, the chief executive officer now owns 400,969 shares of the company’s stock, valued at approximately $10,910,366.49. The disclosure for this sale can be found here. Insiders sold 144,222 shares of company stock valued at $4,365,093 in the last 90 days.

Several institutional investors and hedge funds have recently modified their holdings of SKY. BlackRock Inc. increased its stake in Skyline by 25.4% in the 2nd quarter. BlackRock Inc. now owns 3,940,394 shares of the construction company’s stock worth $107,889,000 after purchasing an additional 797,675 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Skyline by 7.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,633,490 shares of the construction company’s stock valued at $72,105,000 after buying an additional 185,093 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Skyline by 2.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,372,011 shares of the construction company’s stock valued at $64,946,000 after buying an additional 54,847 shares during the last quarter. FMR LLC lifted its holdings in shares of Skyline by 4.7% during the 1st quarter. FMR LLC now owns 2,323,264 shares of the construction company’s stock valued at $44,142,000 after buying an additional 105,135 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its holdings in shares of Skyline by 52.8% during the 2nd quarter. GW&K Investment Management LLC now owns 1,258,302 shares of the construction company’s stock valued at $34,452,000 after buying an additional 434,899 shares during the last quarter.

NYSEAMERICAN:SKY traded up $0.14 on Friday, reaching $30.78. The stock had a trading volume of 517 shares, compared to its average volume of 561,211. Skyline has a 12-month low of $12.72 and a 12-month high of $32.44.

Several brokerages have issued reports on SKY. Zacks Investment Research cut shares of Skyline from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Royal Bank of Canada set a $34.00 price objective on shares of Skyline and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Barclays reissued a “buy” rating and issued a $34.00 price objective on shares of Skyline in a research note on Sunday, August 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $30.00.

About Skyline

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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