American Century Companies Inc. Increases Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

American Century Companies Inc. raised its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,390,300 shares of the transportation company's stock after purchasing an additional 97,108 shares during the period. American Century Companies Inc. owned 3.45% of SkyWest worth $139,211,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in SkyWest in the third quarter valued at $31,000. Private Trust Co. NA grew its stake in SkyWest by 157.1% during the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company's stock worth $49,000 after buying an additional 300 shares during the last quarter. Sound Income Strategies LLC acquired a new position in SkyWest during the fourth quarter worth approximately $50,000. Jones Financial Companies Lllp lifted its stake in SkyWest by 117.2% in the fourth quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company's stock valued at $83,000 after buying an additional 449 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in SkyWest by 193.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company's stock valued at $87,000 after buying an additional 569 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Raymond James reaffirmed an "outperform" rating and issued a $130.00 target price (up from $120.00) on shares of SkyWest in a report on Friday, January 31st.

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SkyWest Stock Performance

Shares of NASDAQ SKYW traded down $2.67 during mid-day trading on Thursday, hitting $90.65. 359,378 shares of the company were exchanged, compared to its average volume of 377,397. The stock has a 50 day simple moving average of $102.44 and a 200-day simple moving average of $100.24. SkyWest, Inc. has a 1-year low of $64.61 and a 1-year high of $135.57. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 11.67 and a beta of 2.00.

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

Insider Activity at SkyWest

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

SkyWest 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.