Pitcairn Co. Acquires Shares of 6,294 SkyWest, Inc. (NASDAQ:SKYW)

Pitcairn Co. bought a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,294 shares of the transportation company’s stock, valued at approximately $535,000.

Several other hedge funds have also modified their holdings of SKYW. Commonwealth Equity Services LLC grew its stake in shares of SkyWest by 1.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company’s stock worth $681,000 after purchasing an additional 152 shares during the period. Evergreen Capital Management LLC boosted its holdings in SkyWest by 3.9% during the second quarter. Evergreen Capital Management LLC now owns 5,660 shares of the transportation company’s stock worth $465,000 after buying an additional 213 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in SkyWest by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company’s stock worth $1,803,000 after buying an additional 214 shares during the period. CWM LLC lifted its position in shares of SkyWest by 57.3% during the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock valued at $63,000 after acquiring an additional 279 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of SkyWest by 45.9% during the 2nd quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after acquiring an additional 292 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

SkyWest Stock Performance

NASDAQ SKYW opened at $114.19 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. SkyWest, Inc. has a fifty-two week low of $45.42 and a fifty-two week high of $116.47. The business has a fifty day moving average of $95.13 and a 200-day moving average of $83.83. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 19.52 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.24. The firm had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 EPS. As a group, analysts predict that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.