SkyWest, Inc. (NASDAQ:SKYW) Stock Position Boosted by Invst LLC

by · The Cerbat Gem

Invst LLC lifted its stake in SkyWest, Inc. (NASDAQ:SKYW – Free Report) by 39.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,405 shares of the transportation company’s stock after acquiring an additional 1,520 shares during the period. Invst LLC’s holdings in SkyWest were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Hohimer Wealth Management LLC acquired a new stake in shares of SkyWest during the 3rd quarter valued at $217,000. Geode Capital Management LLC raised its position in SkyWest by 0.7% during the third quarter. Geode Capital Management LLC now owns 960,739 shares of the transportation company’s stock valued at $81,697,000 after acquiring an additional 6,542 shares in the last quarter. Barclays PLC lifted its stake in 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 acquiring an additional 129,901 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in SkyWest in the third quarter worth approximately $637,000. Finally, XTX Topco Ltd boosted its holdings in SkyWest by 90.5% in the third quarter. XTX Topco Ltd now owns 5,976 shares of the transportation company’s stock worth $508,000 after purchasing an additional 2,839 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Stock Performance

Shares of NASDAQ SKYW opened at $109.51 on Thursday. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 18.72 and a beta of 1.96. SkyWest, Inc. has a one year low of $47.33 and a one year high of $117.51. The business has a fifty day simple moving average of $102.86 and a 200 day simple moving average of $87.06. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

SkyWest (NASDAQ:SKYW – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. The company had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The business’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS. Sell-side analysts expect that SkyWest, Inc. will post 7.16 EPS for the current year.

Insider Buying and Selling

In other news, Director Ronald J. Mittelstaedt sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total transaction of $2,801,500.00. Following the completion of the sale, the director now owns 11,283 shares of the company’s stock, valued at approximately $1,264,372.98. This trade represents a 68.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert J. Simmons sold 16,485 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $105.02, for a total value of $1,731,254.70. Following the completion of the transaction, the chief financial officer now directly owns 113,539 shares in the company, valued at $11,923,865.78. The trade was a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,467 shares of company stock worth $10,082,596 in the last 90 days. 2.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. TD Cowen upped their price objective 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 issued a $119.00 target price on shares of SkyWest in a report on Friday, November 15th. Finally, Raymond James upped their price target on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $105.75.

Get Our Latest Analysis on SKYW

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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