Geode Capital Management LLC Increases Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

Geode Capital Management LLC boosted its position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 960,739 shares of the transportation company's stock after acquiring an additional 6,542 shares during the quarter. Geode Capital Management LLC owned 2.38% of SkyWest worth $81,697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Glenmede Trust Co. NA grew its position in SkyWest by 0.9% in the third quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company's stock valued at $921,000 after acquiring an additional 98 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of SkyWest by 1.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company's stock valued at $681,000 after acquiring an additional 152 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of SkyWest by 3.9% during the second quarter. Evergreen Capital Management LLC now owns 5,660 shares of the transportation company's stock valued at $465,000 after acquiring an additional 213 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of SkyWest by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company's stock worth $1,803,000 after acquiring an additional 214 shares in the last quarter. Finally, Hanseatic Management Services Inc. boosted its position in shares of SkyWest by 2.6% during the second quarter. Hanseatic Management Services Inc. now owns 12,127 shares of the transportation company's stock valued at $995,000 after buying an additional 304 shares during the last quarter. Institutional investors own 81.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on SKYW. The Goldman Sachs Group reiterated a "neutral" rating and set a $119.00 target price on shares of SkyWest in a research note on Friday, November 15th. TD Cowen lifted their price target on SkyWest from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Raymond James raised their price objective on SkyWest from $100.00 to $114.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $105.75.

Insider Activity

In other news, CEO Russell A. Childs sold 27,903 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the completion of the transaction, the chief executive officer now directly owns 349,548 shares of the company's stock, valued at $38,964,115.56. This represents a 7.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Wade J. Steel sold 19,079 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the sale, the insider now owns 97,654 shares of the company's stock, valued at $10,202,889.92. This trade represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,467 shares of company stock worth $10,082,596. Corporate insiders own 2.00% of the company's stock.

SkyWest Price Performance

Shares of SkyWest stock traded down $0.58 during trading hours on Friday, hitting $101.80. The company's stock had a trading volume of 1,687,417 shares, compared to its average volume of 403,000. The company has a market cap of $4.11 billion, a PE ratio of 17.40 and a beta of 1.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. SkyWest, Inc. has a 12-month low of $48.28 and a 12-month high of $117.51. The business has a 50 day moving average price of $105.22 and a two-hundred day moving average price of $88.40.

SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.92 by $0.24. The company had revenue of $912.79 million during 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%. The firm's revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. Analysts expect that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

About SkyWest

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.