Arrowstreet Capital Limited Partnership Buys 192,543 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Arrowstreet Capital Limited Partnership increased its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 57.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 525,722 shares of the transportation company's stock after purchasing an additional 192,543 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.30% of SkyWest worth $52,641,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wealthfront Advisers LLC purchased a new stake in SkyWest in the 4th quarter worth approximately $146,935,000. Norges Bank purchased a new position in SkyWest during the fourth quarter worth about $23,851,000. FMR LLC increased its stake in SkyWest by 42.2% in the 3rd quarter. FMR LLC now owns 484,147 shares of the transportation company's stock worth $41,162,000 after acquiring an additional 143,661 shares during the last quarter. Barclays PLC grew its holdings in shares of SkyWest by 563.8% during the third quarter. Barclays PLC now owns 152,940 shares of the transportation company's stock worth $13,002,000 after purchasing an additional 129,901 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of SkyWest by 7.5% in the fourth quarter. American Century Companies Inc. now owns 1,390,300 shares of the transportation company's stock worth $139,211,000 after purchasing an additional 97,108 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SkyWest

In related news, CFO Robert J. Simmons sold 6,000 shares of the company's stock in a transaction that occurred on 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 owns 175,067 shares in the company, valued at $19,882,359.19. This represents a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Greg Wooley sold 14,545 shares of SkyWest stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the completion of the sale, the vice president now owns 68,737 shares in the company, valued at approximately $7,267,563.01. This trade represents a 17.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, Raymond James cut their price target on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Wednesday.

SkyWest Price Performance

Shares of NASDAQ SKYW traded down $6.31 during trading hours on Thursday, reaching $84.52. 518,476 shares of the stock traded hands, compared to its average volume of 393,959. The company's 50-day simple moving average is $100.19 and its two-hundred day simple moving average is $100.71. The company has a market capitalization of $3.43 billion, a P/E ratio of 10.88 and a beta of 2.00. SkyWest, Inc. has a 52-week low of $64.61 and a 52-week 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.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the business posted $0.42 earnings per share. Equities research analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current year.

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.