Vident Investment Advisory LLC lessened its position in SkyWest, Inc. (NASDAQ:SKYW) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,686 shares of the transportation company’s stock after selling 2,872 shares during the quarter. Vident Investment Advisory LLC owned about 0.12% of SkyWest worth $2,796,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can increased its holdings in shares of SkyWest by 181.5% during the 2nd quarter. Bank of Montreal Can now owns 10,345 shares of the transportation company’s stock worth $364,000 after purchasing an additional 6,670 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of SkyWest by 3.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 71,788 shares of the transportation company’s stock worth $2,516,000 after purchasing an additional 2,164 shares during the period. Texas Permanent School Fund increased its holdings in shares of SkyWest by 0.6% during the 2nd quarter. Texas Permanent School Fund now owns 37,774 shares of the transportation company’s stock worth $1,326,000 after purchasing an additional 236 shares during the period. Sei Investments Co. increased its holdings in shares of SkyWest by 33.3% during the 2nd quarter. Sei Investments Co. now owns 130,541 shares of the transportation company’s stock worth $4,582,000 after purchasing an additional 32,595 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of SkyWest by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 104,277 shares of the transportation company’s stock worth $3,660,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.
In other SkyWest news, insider Wade J. Steel sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $47.00, for a total value of $211,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerry C. Atkin sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $48.10, for a total transaction of $5,291,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,239 shares of company stock valued at $7,512,577. 3.50% of the stock is currently owned by insiders.
Shares of SkyWest, Inc. (NASDAQ SKYW) opened at $52.50 on Monday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a market cap of $2,721.73, a P/E ratio of 16.67 and a beta of 1.77. SkyWest, Inc. has a 12 month low of $30.40 and a 12 month high of $53.45.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.03. The business had revenue of $831.93 million during 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 revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. analysts predict that SkyWest, Inc. will post 3.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 29th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, December 28th. SkyWest’s dividend payout ratio (DPR) is -12.26%.
A number of analysts recently weighed in on the stock. Deutsche Bank upped their target price on shares of SkyWest from $47.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research raised shares of SkyWest from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Wednesday, November 22nd. BidaskClub cut shares of SkyWest from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. ValuEngine raised shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 29th. Finally, Cowen upped their target price on shares of SkyWest from $44.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $50.60.
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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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