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

Legato Capital Management LLC increased its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 42.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,895 shares of the transportation company's stock after acquiring an additional 5,624 shares during the quarter. Legato Capital Management LLC's holdings in SkyWest were worth $1,551,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of SkyWest by 5,120.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,775 shares of the transportation company's stock worth $93,000 after acquiring an additional 1,741 shares in the last quarter. Strs Ohio purchased a new position in SkyWest during the 4th quarter worth approximately $36,000. Handelsbanken Fonder AB grew its position in SkyWest by 16.7% during the 4th quarter. Handelsbanken Fonder AB now owns 5,600 shares of the transportation company's stock worth $292,000 after purchasing an additional 800 shares in the last quarter. GAMMA Investing LLC acquired a new stake in SkyWest during the 4th quarter valued at $29,000. Finally, Anchor Capital Advisors LLC lifted its holdings in shares of SkyWest by 13.5% in the fourth quarter. Anchor Capital Advisors LLC now owns 26,618 shares of the transportation company's stock valued at $1,389,000 after purchasing an additional 3,172 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SkyWest

In other news, CAO Eric Woodward sold 5,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $80.56, for a total transaction of $402,800.00. Following the transaction, the chief accounting officer now owns 48,426 shares of the company's stock, valued at approximately $3,901,198.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director James L. Welch sold 7,605 shares of SkyWest stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $78.68, for a total value of $598,361.40. Following the transaction, the director now directly owns 48,462 shares in the company, valued at $3,812,990.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Eric Woodward sold 5,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $80.56, for a total value of $402,800.00. Following the sale, the chief accounting officer now owns 48,426 shares of the company's stock, valued at approximately $3,901,198.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,020 shares of company stock valued at $1,761,938. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, TD Cowen increased their price objective on SkyWest from $85.00 to $95.00 and gave the stock a "buy" rating in a research note on Tuesday, June 4th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.67.

SkyWest Stock Down 0.3 %

Shares of NASDAQ:SKYW traded down $0.22 during midday trading on Tuesday, hitting $75.46. 203,507 shares of the stock were exchanged, compared to its average volume of 425,044. The company has a market capitalization of $3.04 billion, a PE ratio of 27.44 and a beta of 1.96. SkyWest, Inc. has a 52-week low of $36.91 and a 52-week high of $87.86. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.74 and a current ratio of 0.84. The business's fifty day simple moving average is $78.94 and its two-hundred day simple moving average is $73.21.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The transportation company reported $1.82 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.09. The company had revenue of $867.10 million during the quarter, compared to the consensus estimate of $826.56 million. SkyWest had a return on equity of 8.18% and a net margin of 5.55%. The business's quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. As a group, research analysts predict that SkyWest, Inc. will post 6.88 earnings per share for the current fiscal year.

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.