Venator Capital Management increased its stake in Skyline Corp (NYSE: SKY) by 805 percent in Q2 based on its latest regulatory filing with the SEC.
Venator purchased 466,541 shares as the company’s stock, and now holds 524,492 total shares valued at $4.93 million.
The move follows Skyline’s recent earnings results, where the company reported a 26 percent increase in net sales from continuing operations over the same quarter one year ago, and income from continuing operations of $744,000, as compared to a loss of $895,000 from continuing operations in the first quarter of fiscal 2016 a $1.5-million increase.
“Our continued focus on growing sales and improving margins through disciplined operations generated favorable year-over-year results in the quarter,” commented president and Chief Executive Officer, Richard Florea.
“While we are pleased with the progress we are making, we are committed to capitalizing on the opportunities we have.“
As manufactured housing industry professionals and investors know, Skyline Corporation is one of the oldest and larger independent producers of manufactured, modular and park model homes. It is one of the manufactured housing industry stocks monitored each business day on the Daily Business News.
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(Editor’s Note: for A Cup of Coffee with…Terry Decio, Skyline Homes, click here.)
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Submitted by RC Williams to the Daily Business News for MHProNews.