New Jersey Better Educational Savings Trust Decreases Position in Skyline Co. (SKY)

New Jersey Better Educational Savings Trust cut its stake in shares of Skyline Co. (NYSEAMERICAN:SKY) by 52.4% during the 1st quarter, Holdings Channel reports. The firm owned 10,000 shares of the construction company’s stock after selling 11,000 shares during the period. New Jersey Better Educational Savings Trust’s holdings in Skyline were worth $190,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. K.J. Harrison & Partners Inc bought a new stake in shares of Skyline during the 1st quarter valued at approximately $1,070,000. BNP Paribas Arbitrage SA acquired a new stake in Skyline during the 1st quarter worth approximately $132,000. Oppenheimer Asset Management Inc. boosted its position in Skyline by 39.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,872 shares of the construction company’s stock worth $36,000 after buying an additional 532 shares during the period. Pier Capital LLC boosted its position in Skyline by 69.3% during the 1st quarter. Pier Capital LLC now owns 253,459 shares of the construction company’s stock worth $4,816,000 after buying an additional 103,722 shares during the period. Finally, Strs Ohio boosted its position in Skyline by 14.1% during the 1st quarter. Strs Ohio now owns 8,900 shares of the construction company’s stock worth $169,000 after buying an additional 1,100 shares during the period.

SKY has been the topic of several recent research reports. Craig Hallum reiterated a “buy” rating and set a $30.00 target price (down from $37.00) on shares of Skyline in a research report on Thursday, February 7th. Zacks Investment Research upgraded shares of Skyline from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, February 5th. Finally, SunTrust Banks upgraded shares of Skyline from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Thursday, January 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Skyline has a consensus rating of “Buy” and an average target price of $27.57.

In other news, insider Mak Capital One Llc sold 1,500,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $20.21, for a total value of $30,315,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Roger K. Scholten sold 4,394 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $22.05, for a total transaction of $96,887.70. Following the completion of the transaction, the senior vice president now owns 197,388 shares in the company, valued at approximately $4,352,405.40. The disclosure for this sale can be found here.

NYSEAMERICAN:SKY opened at $21.78 on Friday. Skyline Co. has a one year low of $12.72 and a one year high of $35.65.

Skyline (NYSEAMERICAN:SKY) last posted its earnings results on Tuesday, February 5th. The construction company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $354.67 million for the quarter, compared to analyst estimates of $346.65 million.

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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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Institutional Ownership by Quarter for Skyline (NYSEAMERICAN:SKY)

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