Martingale Asset Management L P Makes New Investment in SkyWest, Inc. (NASDAQ:SKYW)

Martingale Asset Management L P bought a new position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 12,121 shares of the transportation company's stock, valued at approximately $1,214,000.

A number of other institutional investors have also added to or reduced their stakes in SKYW. Wealthfront Advisers LLC bought a new position in shares of SkyWest in the 4th quarter worth $146,935,000. Norges Bank bought a new position in SkyWest in the fourth quarter worth about $23,851,000. Arrowstreet Capital Limited Partnership lifted its position in shares of SkyWest by 57.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 525,722 shares of the transportation company's stock valued at $52,641,000 after buying an additional 192,543 shares during the last quarter. Barclays PLC boosted its holdings in shares of SkyWest by 563.8% in the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company's stock valued at $13,002,000 after buying an additional 129,901 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of SkyWest by 47.5% in the 4th quarter. Renaissance Technologies LLC now owns 399,324 shares of the transportation company's stock worth $39,984,000 after buying an additional 128,524 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company's stock.

SkyWest Stock Performance

Shares of SKYW stock traded up $0.23 during mid-day trading on Wednesday, reaching $85.71. The stock had a trading volume of 356,517 shares, compared to its average volume of 400,364. SkyWest, Inc. has a 1-year low of $64.61 and a 1-year high of $135.57. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 11.03 and a beta of 1.83. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. The business's fifty day moving average is $93.06 and its 200-day moving average is $100.76.

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SkyWest (NASDAQ:SKYW - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, topping 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 firm posted $0.42 EPS. On average, research analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Raymond James cut their price target on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. The Goldman Sachs Group raised SkyWest from a "neutral" rating to a "buy" rating and reduced their target price for the company from $119.00 to $117.00 in a research report on Tuesday, April 8th. Finally, StockNews.com downgraded SkyWest from a "buy" rating to a "hold" rating in a report on Saturday.

Insider Transactions at SkyWest

In other SkyWest news, VP Greg Wooley sold 14,545 shares of the 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 sale, the vice president now directly 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 position. 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 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 transaction, the chief financial officer now directly owns 175,067 shares of the company's stock, valued at approximately $19,882,359.19. This trade represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

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.