Renaissance Technologies LLC raised its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 47.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 399,324 shares of the transportation company's stock after acquiring an additional 128,524 shares during the period. Renaissance Technologies LLC owned approximately 0.99% of SkyWest worth $39,984,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealthfront Advisers LLC acquired a new stake in SkyWest in the fourth quarter valued at about $146,935,000. Norges Bank purchased a new position in shares of SkyWest during the 4th quarter worth approximately $23,851,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of SkyWest by 57.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 525,722 shares of the transportation company's stock valued at $52,641,000 after buying an additional 192,543 shares during the period. Barclays PLC boosted 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. Finally, American Century Companies Inc. grew its holdings in SkyWest by 7.5% during the fourth quarter. American Century Companies Inc. now owns 1,390,300 shares of the transportation company's stock worth $139,211,000 after acquiring an additional 97,108 shares during the period. Hedge funds and other institutional investors own 81.30% of the company's stock.
SkyWest Price Performance
Shares of SKYW stock traded up $0.42 during mid-day trading on Tuesday, reaching $85.52. The stock had a trading volume of 210,829 shares, compared to its average volume of 399,800. The company has a market cap of $3.47 billion, a P/E ratio of 11.01 and a beta of 1.83. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. SkyWest, Inc. has a 12-month low of $64.61 and a 12-month high of $135.57. The business has a 50-day simple moving average of $93.67 and a 200 day simple moving average of $100.87.
SkyWest (NASDAQ:SKYW - Get Free Report) last posted its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, beating the consensus estimate 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 company posted $0.42 earnings per share. On average, sell-side analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms have commented on SKYW. Raymond James reduced their target price on SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. StockNews.com cut shares of SkyWest from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, The Goldman Sachs Group upgraded shares of SkyWest from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $119.00 to $117.00 in a research report on Tuesday, April 8th.
Get Our Latest Stock Analysis on SKYW
Insider Transactions at SkyWest
In related 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 of the company's stock, valued at $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 is available at the SEC website. Also, CFO Robert J. Simmons sold 6,000 shares of the business's stock in a transaction dated Monday, February 10th. The shares were 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 of the company's stock, valued at $19,882,359.19. The trade was 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
(
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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