Sei Investments Co. lifted its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 53.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 199,976 shares of the transportation company’s stock after buying an additional 69,435 shares during the period. Sei Investments Co. owned 0.39% of SkyWest worth $8,779,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in SKYW. Oppenheimer Asset Management Inc. raised its stake in SkyWest by 108.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock worth $100,000 after purchasing an additional 1,488 shares during the period. Riverhead Capital Management LLC increased its position in shares of SkyWest by 81.0% in the second quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock worth $146,000 after acquiring an additional 1,862 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of SkyWest by 10.4% in the second quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock worth $156,000 after acquiring an additional 419 shares in the last quarter. Pitcairn Co. acquired a new stake in shares of SkyWest in the third quarter worth $205,000. Finally, Flinton Capital Management LLC increased its position in shares of SkyWest by 73.1% in the second quarter. Flinton Capital Management LLC now owns 5,474 shares of the transportation company’s stock worth $192,000 after acquiring an additional 2,312 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently issued reports on SKYW. Cowen increased their price objective on shares of SkyWest from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. ValuEngine raised shares of SkyWest from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 29th. Zacks Investment Research raised shares of SkyWest from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, October 3rd. Finally, Imperial Capital raised their price target on shares of SkyWest from $38.00 to $47.00 and gave the company an “in-line” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $50.60.
SkyWest, Inc. (SKYW) traded up $0.25 during trading on Thursday, hitting $51.65. 267,691 shares of the stock were exchanged, compared to its average volume of 337,059. The company has a market cap of $2,641.38, a P/E ratio of 16.17 and a beta of 1.77. SkyWest, Inc. has a one year low of $30.40 and a one year high of $52.95. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.09 and a current ratio of 1.24.
SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.03. The firm had revenue of $831.93 million for the quarter, compared to the consensus estimate of $817.43 million. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. SkyWest’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. equities analysts expect that SkyWest, Inc. will post 3.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.32 annualized dividend and a yield of 0.62%. SkyWest’s payout ratio is -12.26%.
In other news, COO Terry Vais sold 12,075 shares of SkyWest stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $51.52, for a total value of $622,104.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wade J. Steel sold 4,500 shares of SkyWest stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $47.00, for a total transaction of $211,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,239 shares of company stock worth $7,512,577. 3.50% of the stock is owned by corporate insiders.
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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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