Cornercap Investment Counsel Inc. lowered its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 49.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,484 shares of the transportation company's stock after selling 6,240 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in SkyWest were worth $551,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of SKYW. UniSuper Management Pty Ltd acquired a new position in shares of SkyWest in the 1st quarter valued at $520,000. Boston Partners acquired a new position in SkyWest in the first quarter valued at about $1,275,000. Nicholas Investment Partners LP boosted its stake in SkyWest by 82.9% during the second quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company's stock worth $15,451,000 after buying an additional 85,356 shares during the period. Acadian Asset Management LLC purchased a new position in SkyWest during the second quarter worth about $520,000. Finally, Victory Capital Management Inc. increased its position in shares of SkyWest by 90.2% during the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company's stock valued at $45,225,000 after acquiring an additional 261,349 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on SKYW. TD Cowen increased their price objective on shares of SkyWest from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Raymond James boosted their price objective on SkyWest from $100.00 to $114.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $119.00 price target on shares of SkyWest in a research note on Friday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.75.
Read Our Latest Stock Analysis on SKYW
Insider Buying and Selling
In other news, CAO Eric Woodward sold 4,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total transaction of $446,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 44,426 shares of the company's stock, valued at approximately $4,954,831.78. This represents a 8.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Wade J. Steel sold 19,079 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total value of $1,993,373.92. Following the sale, the insider now directly owns 97,654 shares in the company, valued at $10,202,889.92. This trade represents a 16.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,467 shares of company stock worth $10,082,596 over the last 90 days. 2.00% of the stock is owned by insiders.
SkyWest Stock Up 0.5 %
Shares of NASDAQ SKYW opened at $111.33 on Friday. The stock has a market cap of $4.49 billion, a P/E ratio of 19.03 and a beta of 1.93. The business's fifty day simple moving average is $91.70 and its 200-day simple moving average is $82.51. SkyWest, Inc. has a 12-month low of $44.71 and a 12-month high of $116.47. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.
SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.24. The company had revenue of $912.79 million for the quarter, compared to analyst estimates of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. SkyWest's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. As a group, equities analysts predict that SkyWest, Inc. will post 7.16 EPS for the current fiscal year.
SkyWest Company Profile
(
Free Report)
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.
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