Skyline (SKY) Sees Large Volume Increase

Shares of Skyline Co. (NYSEAMERICAN:SKY) saw unusually-strong trading volume on Friday . Approximately 982,049 shares traded hands during mid-day trading, an increase of 269% from the previous session’s volume of 265,930 shares.The stock last traded at $19.00 and had previously closed at $12.83.

The company has a market capitalization of $107.83, a price-to-earnings ratio of 211.11 and a beta of 1.73.

In related news, major shareholder Jeffrey L. Et Al Gendell acquired 17,900 shares of the company’s stock in a transaction on Tuesday, October 17th. The shares were acquired at an average cost of $11.26 per share, for a total transaction of $201,554.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Jeffrey L. Et Al Gendell acquired 41,420 shares of the company’s stock in a transaction on Thursday, October 19th. The shares were bought at an average price of $11.24 per share, for a total transaction of $465,560.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 83,488 shares of company stock worth $942,989.

Institutional investors have recently made changes to their positions in the company. OxFORD Asset Management LLP purchased a new stake in shares of Skyline during the 3rd quarter valued at $120,000. Edge Wealth Management LLC purchased a new stake in shares of Skyline during the 3rd quarter valued at $132,000. Alden Global Capital LLC purchased a new stake in shares of Skyline during the 2nd quarter valued at $120,000. Northern Trust Corp increased its position in shares of Skyline by 3.7% during the 2nd quarter. Northern Trust Corp now owns 20,603 shares of the construction company’s stock valued at $124,000 after purchasing an additional 732 shares during the last quarter. Finally, Quantum Capital Management purchased a new stake in shares of Skyline during the 3rd quarter valued at $523,000.

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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 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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