Navellier & Associates Inc. Takes $1.05 Million Position in SkyWest, Inc. (NASDAQ:SKYW)

Navellier & Associates Inc. purchased a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) during the third quarter, Holdings Channel.com reports. The fund purchased 12,303 shares of the transportation company’s stock, valued at approximately $1,046,000.

Several other hedge funds have also modified their holdings of SKYW. NBC Securities Inc. lifted its position in shares of SkyWest by 1,368.0% in the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 342 shares in the last quarter. Kings Path Partners LLC purchased a new position in SkyWest in the 2nd quarter valued at $42,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in SkyWest during the 2nd quarter worth $54,000. CWM LLC grew its holdings in shares of SkyWest by 57.3% during the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after buying an additional 279 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of SkyWest by 45.9% in the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after buying an additional 292 shares during the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on SKYW shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $119.00 price objective on shares of SkyWest in a research note on Friday, November 15th. Raymond James boosted their price objective on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, TD Cowen lifted their price target on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, SkyWest has an average rating of “Moderate Buy” and an average target price of $105.75.

SkyWest Stock Up 0.8 %

Shares of NASDAQ:SKYW opened at $109.86 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 18.78 and a beta of 1.93. The business has a 50-day moving average price of $93.77 and a 200 day moving average price of $83.31. SkyWest, Inc. has a 12-month low of $45.42 and a 12-month high of $116.47.

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

Insider Activity

In other SkyWest news, CEO Russell A. Childs sold 27,903 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total transaction of $3,110,347.41. Following the completion of the sale, the chief executive officer now directly owns 349,548 shares of the company’s stock, valued at $38,964,115.56. This represents a 7.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wade J. Steel sold 19,079 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total value of $1,993,373.92. Following the sale, the insider now owns 97,654 shares of the company’s stock, valued at $10,202,889.92. This trade represents a 16.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,467 shares of company stock worth $10,082,596. 2.00% of the stock is currently owned by insiders.

SkyWest Company 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.