Massachusetts Financial Services Co. MA Acquires 7,159 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Massachusetts Financial Services Co. MA raised its position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,322 shares of the transportation company's stock after buying an additional 7,159 shares during the period. Massachusetts Financial Services Co. MA owned about 0.15% of SkyWest worth $5,940,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SKYW. Headlands Technologies LLC acquired a new stake in SkyWest during the 4th quarter valued at $45,000. Meeder Asset Management Inc. acquired a new stake in shares of SkyWest in the fourth quarter valued at $417,000. O Shaughnessy Asset Management LLC increased its stake in shares of SkyWest by 29.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 48,217 shares of the transportation company's stock valued at $4,828,000 after buying an additional 10,985 shares in the last quarter. Physician Wealth Advisors Inc. bought a new position in shares of SkyWest in the fourth quarter valued at about $170,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in SkyWest by 57.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 525,722 shares of the transportation company's stock worth $52,641,000 after buying an additional 192,543 shares in the last quarter. Institutional investors own 81.30% of the company's stock.

Insider Activity

In related news, CFO Robert J. Simmons sold 6,000 shares of SkyWest 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 owns 175,067 shares of the company's stock, valued at $19,882,359.19. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Greg Wooley sold 14,545 shares of the company'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 transaction of $1,537,842.85. Following the completion of the sale, the vice president now directly owns 68,737 shares of the company's stock, valued at $7,267,563.01. The trade was a 17.46 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Remove Ads

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of SkyWest from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $119.00 to $117.00 in a research report on Tuesday. 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, StockNews.com downgraded SkyWest from a "buy" rating to a "hold" rating in a report on Saturday.

SkyWest Trading Up 1.9 %

SkyWest stock traded up $1.64 during trading hours on Friday, reaching $86.31. 362,496 shares of the company's stock traded hands, compared to its average volume of 399,556. The firm 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 fifty-two week low of $64.61 and a fifty-two week high of $135.57. The firm's 50 day moving average is $94.34 and its 200-day moving average is $100.74.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings data 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 period last year, the company earned $0.42 EPS. On average, analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current year.

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.