Norges Bank Makes New $23.85 Million Investment in SkyWest, Inc. (NASDAQ:SKYW)

Norges Bank bought a new stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 238,200 shares of the transportation company's stock, valued at approximately $23,851,000. Norges Bank owned approximately 0.59% of SkyWest as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Wealthfront Advisers LLC acquired a new stake in SkyWest during the 4th quarter valued at $146,935,000. FMR LLC grew its holdings in shares of SkyWest by 42.2% during the third quarter. FMR LLC now owns 484,147 shares of the transportation company's stock worth $41,162,000 after purchasing an additional 143,661 shares during the last quarter. Barclays PLC increased its stake in shares of SkyWest by 563.8% in the third 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. American Century Companies Inc. raised its holdings in shares of SkyWest by 7.5% in the fourth quarter. American Century Companies Inc. now owns 1,390,300 shares of the transportation company's stock valued at $139,211,000 after buying an additional 97,108 shares during the last quarter. Finally, Navellier & Associates Inc. raised its holdings in shares of SkyWest by 431.1% in the fourth quarter. Navellier & Associates Inc. now owns 65,338 shares of the transportation company's stock valued at $6,542,000 after buying an additional 53,035 shares during the last quarter. Institutional investors own 81.30% of the company's stock.

SkyWest Trading Up 1.9 %

NASDAQ:SKYW traded up $1.64 on Friday, hitting $86.31. 362,496 shares of the stock were exchanged, compared to its average volume of 399,556. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 11.11 and a beta of 1.83. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. SkyWest, Inc. has a 52 week low of $64.61 and a 52 week high of $135.57. The company's 50-day moving average price is $94.34 and its 200 day moving average price is $100.74.

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

Insider Buying and Selling at SkyWest

In other news, CFO Robert J. Simmons sold 6,000 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $113.57, for a total transaction of $681,420.00. Following the completion of the transaction, the chief financial officer now directly owns 175,067 shares in the company, valued at approximately $19,882,359.19. The trade was a 3.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Greg Wooley sold 14,545 shares of the 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 sale, the vice president now owns 68,737 shares in the company, valued at $7,267,563.01. This represents a 17.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

SKYW has been the subject of several research reports. StockNews.com cut shares of SkyWest from a "buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Raymond James lowered their price target on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group upgraded shares of SkyWest from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $119.00 to $117.00 in a research report on Tuesday.

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.