Sierra Summit Advisors LLC Takes Position in SkyWest, Inc. (NASDAQ:SKYW)

Sierra Summit Advisors LLC acquired a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,601 shares of the transportation company's stock, valued at approximately $561,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in shares of SkyWest by 42.2% during the 3rd quarter. FMR LLC now owns 484,147 shares of the transportation company's stock valued at $41,162,000 after acquiring an additional 143,661 shares during the last quarter. BNP Paribas Financial Markets grew its stake in SkyWest by 104.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,549 shares of the transportation company's stock worth $1,917,000 after buying an additional 11,494 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of SkyWest by 55.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 29,689 shares of the transportation company's stock valued at $2,524,000 after buying an additional 10,539 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of SkyWest by 90.5% during the 3rd quarter. XTX Topco Ltd now owns 5,976 shares of the transportation company's stock worth $508,000 after acquiring an additional 2,839 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in SkyWest in the third quarter worth $637,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Trading Up 1.9 %

SkyWest stock traded up $1.64 during trading hours on Friday, reaching $86.31. The stock had a trading volume of 362,496 shares, compared to its average volume of 399,556. The company has a fifty day simple moving average of $94.34 and a 200-day simple moving average of $100.74. SkyWest, Inc. has a 52 week low of $64.61 and a 52 week high of $135.57. The stock has a market cap of $3.51 billion, a PE ratio of 11.11 and a beta of 1.83. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68.

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SkyWest (NASDAQ:SKYW - Get Free Report) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Greg Wooley sold 14,545 shares of SkyWest stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $105.73, for a total value of $1,537,842.85. Following the completion of the transaction, the vice president now owns 68,737 shares of the company's stock, valued at $7,267,563.01. The trade was a 17.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert J. Simmons sold 6,000 shares of SkyWest stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $113.57, for a total transaction of $681,420.00. Following the completion of the transaction, the chief financial officer now directly owns 175,067 shares of the company's stock, valued at $19,882,359.19. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SKYW has been the subject of several research analyst reports. StockNews.com lowered SkyWest from a "buy" rating to a "hold" rating in a research note on Saturday. Raymond James dropped their target price on SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Finally, The Goldman Sachs Group upgraded shares of SkyWest from a "neutral" rating to a "buy" rating and reduced their price target for the company from $119.00 to $117.00 in a research report on Tuesday.

SkyWest Company Profile

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest's airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.