SkyWest, Inc. (NASDAQ:SKYW) Shares Bought by Invst LLC

Invst LLC grew its stake in SkyWest, Inc. (NASDAQ:SKYW) by 39.1% during the third quarter, according to its most recent 13F filing with the SEC. 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 SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pitcairn Co. acquired a new stake in shares of SkyWest in the third quarter valued at $535,000. Nicholas Investment Partners LP lifted its position in shares of SkyWest by 82.9% during the 2nd quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock worth $15,451,000 after purchasing an additional 85,356 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in SkyWest in the second quarter valued at $520,000. Cornercap Investment Counsel Inc. purchased a new stake in SkyWest during the 2nd quarter worth about $1,044,000. Finally, Victory Capital Management Inc. boosted its position in shares of SkyWest by 90.2% during the 2nd quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock worth $45,225,000 after acquiring an additional 261,349 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

SkyWest stock opened at $109.51 on Thursday. 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 stock has a 50 day moving average of $102.86 and a 200-day moving average of $87.06. The stock has a market cap of $4.42 billion, a P/E ratio of 18.72 and a beta of 1.96. SkyWest, Inc. has a 52 week low of $47.33 and a 52 week high of $117.51.

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

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Russell A. Childs sold 27,903 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 349,548 shares in the company, valued at $38,964,115.56. This represents a 7.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Eric Woodward sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total value of $446,120.00. Following the completion of the sale, the chief accounting officer now owns 44,426 shares in the company, valued at $4,954,831.78. The trade was a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,467 shares of company stock worth $10,082,596. 2.50% 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.