Navellier & Associates Inc. purchased a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,303 shares of the transportation company's stock, valued at approximately $1,046,000.
Other hedge funds have also recently modified their holdings of the company. UniSuper Management Pty Ltd purchased a new position in shares of SkyWest in the first quarter worth $520,000. Boston Partners purchased a new position in shares of SkyWest in the first quarter worth $1,275,000. Nicholas Investment Partners LP lifted its holdings in shares of SkyWest by 82.9% in the second quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company's stock worth $15,451,000 after buying an additional 85,356 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of SkyWest in the second quarter worth $520,000. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of SkyWest in the second quarter worth $1,044,000. Hedge funds and other institutional investors own 81.30% of the company's stock.
SkyWest Price Performance
SkyWest stock traded up $2.34 during mid-day trading on Friday, reaching $111.90. 255,807 shares of the company's stock traded hands, compared to its average volume of 402,744. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 18.78 and a beta of 1.93. The stock has a 50 day moving average of $94.46 and a two-hundred day moving average of $83.49. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. SkyWest, Inc. has a 12-month low of $45.42 and a 12-month high of $116.47.
SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The business had revenue of $912.79 million for the quarter, compared to analysts' expectations of $896.21 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. The business's revenue was up 19.1% compared to the same quarter last year. Equities analysts forecast that SkyWest, Inc. will post 7.16 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on SKYW shares. TD Cowen boosted their target price on shares of SkyWest from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $119.00 price target on shares of SkyWest in a research note on Friday, November 15th. Finally, Raymond James upped their price target on shares of SkyWest from $100.00 to $114.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $105.75.
View Our Latest Stock Analysis on SkyWest
Insider Buying and Selling at SkyWest
In other news, Director Ronald J. Mittelstaedt sold 25,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total value of $2,801,500.00. Following the transaction, the director now directly owns 11,283 shares in the company, valued at approximately $1,264,372.98. This represents a 68.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Wade J. Steel sold 19,079 shares of the company's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the transaction, the insider now owns 97,654 shares in the company, valued at approximately $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 92,467 shares of company stock worth $10,082,596 over the last quarter. Insiders own 2.00% of the company's stock.
SkyWest Company Profile
(
Free Report)
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.
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