Mitsubishi UFJ Trust & Banking Corp Has $2.16 Million Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 127.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,518 shares of the transportation company's stock after purchasing an additional 12,049 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of SkyWest worth $2,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKYW. JPMorgan Chase & Co. grew its position in SkyWest by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 357,510 shares of the transportation company's stock worth $30,396,000 after buying an additional 11,169 shares in the last quarter. Barclays PLC grew its holdings in shares of SkyWest by 563.8% during the 3rd 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. BNP Paribas Financial Markets increased its position in shares of SkyWest by 104.0% during the third quarter. BNP Paribas Financial Markets now owns 22,549 shares of the transportation company's stock valued at $1,917,000 after purchasing an additional 11,494 shares during the period. Savant Capital LLC bought a new stake in shares of SkyWest during the fourth quarter valued at approximately $242,000. Finally, Tidal Investments LLC acquired a new position in shares of SkyWest in the third quarter valued at $648,000. Institutional investors and hedge funds own 81.30% of the company's stock.

SkyWest Price Performance

Shares of SkyWest stock traded down $6.31 during midday trading on Thursday, hitting $84.52. 482,262 shares of the company were exchanged, compared to its average volume of 393,557. The firm has a 50 day simple moving average of $100.19 and a 200-day simple moving average of $100.71. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. The firm has a market cap 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.

Remove Ads

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Research analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Raymond James lowered 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.

Insider Buying and Selling at SkyWest

In other news, VP Greg Wooley sold 14,545 shares of the stock in a transaction on 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 owns 68,737 shares in the company, valued at approximately $7,267,563.01. This 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 SkyWest 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 $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. Company insiders own 2.00% 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.