Magnetar Financial LLC Takes $396,000 Position in SkyWest, Inc. (NASDAQ:SKYW)

Magnetar Financial LLC purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,958 shares of the transportation company's stock, valued at approximately $396,000.

A number of other hedge funds have also recently made changes to their positions in SKYW. Harvest Fund Management Co. Ltd increased its stake in SkyWest by 391.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 8,480 shares of the transportation company's stock worth $849,000 after acquiring an additional 6,754 shares during the last quarter. Xponance Inc. lifted its position in SkyWest by 7.7% during the fourth quarter. Xponance Inc. now owns 2,808 shares of the transportation company's stock valued at $281,000 after purchasing an additional 201 shares during the last quarter. Counterpoint Mutual Funds LLC grew its stake in SkyWest by 13.9% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 17,833 shares of the transportation company's stock worth $1,786,000 after buying an additional 2,174 shares in the last quarter. Cibc World Markets Corp bought a new stake in shares of SkyWest during the 4th quarter worth $371,000. Finally, Royce & Associates LP grew its position in SkyWest by 31.2% in the fourth quarter. Royce & Associates LP now owns 20,423 shares of the transportation company's stock worth $2,045,000 after acquiring an additional 4,852 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SkyWest news, VP Greg Wooley sold 14,545 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president now owns 68,737 shares of the company's stock, valued at approximately $7,267,563.01. This trade represents a 17.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert J. Simmons sold 6,000 shares of the business'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 value of $681,420.00. Following the completion of the sale, the chief financial officer now directly owns 175,067 shares in the company, valued at approximately $19,882,359.19. This 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 currently owned by company insiders.

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SkyWest Trading Down 2.9 %

NASDAQ SKYW traded down $2.67 on Thursday, hitting $90.65. The company's stock had a trading volume of 359,378 shares, compared to its average volume of 377,397. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. SkyWest, Inc. has a 52-week low of $64.61 and a 52-week high of $135.57. The firm has a market cap of $3.66 billion, a P/E ratio of 11.67 and a beta of 2.00. The company's 50-day simple moving average is $102.44 and its 200 day simple moving average is $100.24.

SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly 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 previous year, the company earned $0.42 EPS. Research analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.