Prudential Financial Inc. Increases Position in SkyWest, Inc. (NASDAQ:SKYW)

Prudential Financial Inc. grew its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 355,366 shares of the transportation company's stock after purchasing an additional 23,800 shares during the quarter. Prudential Financial Inc. owned approximately 0.88% of SkyWest worth $35,583,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Glenmede Trust Co. NA grew its position in SkyWest by 0.9% during the third quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company's stock valued at $921,000 after buying an additional 98 shares during the period. Louisiana State Employees Retirement System grew its position in shares of SkyWest by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the transportation company's stock valued at $1,953,000 after acquiring an additional 100 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of SkyWest by 1.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,495 shares of the transportation company's stock valued at $951,000 after acquiring an additional 100 shares during the period. Highland Capital Management LLC increased its stake in shares of SkyWest by 6.1% during the 4th quarter. Highland Capital Management LLC now owns 2,783 shares of the transportation company's stock worth $279,000 after purchasing an additional 160 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of SkyWest by 14.4% in the 4th quarter. GAMMA Investing LLC now owns 1,561 shares of the transportation company's stock worth $156,000 after purchasing an additional 196 shares during the period. 81.30% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Separately, Raymond James reissued an "outperform" rating and set a $130.00 price objective (up from $120.00) on shares of SkyWest in a report on Friday, January 31st.

SkyWest Stock Performance

NASDAQ SKYW traded down $1.89 during trading on Friday, hitting $88.76. 410,705 shares of the company's stock traded hands, compared to its average volume of 391,929. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 11.42 and a beta of 2.00. SkyWest, Inc. has a 12-month low of $64.61 and a 12-month high of $135.57. The business has a 50 day moving average of $101.66 and a 200-day moving average of $100.63.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, beating 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 previous year, the company posted $0.42 EPS. As a group, equities research analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Transactions at SkyWest

In other news, VP Greg Wooley sold 14,545 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total value of $1,537,842.85. Following the completion of the transaction, the vice president now directly owns 68,737 shares in the company, valued at approximately $7,267,563.01. This trade represents a 17.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert J. Simmons sold 6,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following 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 represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

About SkyWest

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.