Guggenheim Capital LLC reduced its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 62.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,057 shares of the transportation company’s stock after selling 62,292 shares during the period. Guggenheim Capital LLC owned about 0.07% of SkyWest worth $1,967,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of SKYW. Bank of New York Mellon Corp lifted its stake in shares of SkyWest by 108.3% during the 4th quarter. Bank of New York Mellon Corp now owns 2,153,757 shares of the transportation company’s stock worth $114,367,000 after acquiring an additional 1,119,617 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of SkyWest by 19.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,863,468 shares of the transportation company’s stock worth $98,950,000 after acquiring an additional 302,000 shares during the last quarter. BlackRock Inc. lifted its stake in shares of SkyWest by 2.8% during the 4th quarter. BlackRock Inc. now owns 6,459,519 shares of the transportation company’s stock worth $343,000,000 after acquiring an additional 178,016 shares during the last quarter. Eaton Vance Management bought a new stake in shares of SkyWest during the 4th quarter worth approximately $5,847,000. Finally, Deutsche Bank AG lifted its stake in shares of SkyWest by 65.1% during the 4th quarter. Deutsche Bank AG now owns 205,592 shares of the transportation company’s stock worth $10,914,000 after acquiring an additional 81,083 shares during the last quarter. 89.68% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ SKYW opened at $55.40 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.21 and a quick ratio of 1.07. The firm has a market cap of $2,824.74, a price-to-earnings ratio of 16.15 and a beta of 1.67. SkyWest, Inc. has a twelve month low of $31.75 and a twelve month high of $60.65.
SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, February 1st. The transportation company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.10. The business had revenue of $797.20 million during the quarter, compared to analyst estimates of $778.13 million. SkyWest had a return on equity of 12.08% and a net margin of 13.39%. SkyWest’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS. research analysts expect that SkyWest, Inc. will post 4.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 5th. Shareholders of record on Friday, March 30th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, March 28th. This is a positive change from SkyWest’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.72%. SkyWest’s payout ratio is 11.66%.
A number of equities research analysts recently issued reports on SKYW shares. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Thursday, April 5th. BidaskClub lowered SkyWest from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 29th. Cowen reissued a “buy” rating and set a $60.00 price target on shares of SkyWest in a research note on Tuesday, January 9th. Finally, Imperial Capital raised their price target on SkyWest from $47.00 to $55.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. SkyWest presently has a consensus rating of “Buy” and a consensus price target of $59.60.
In other SkyWest news, insider Eric Woodward sold 4,500 shares of SkyWest stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $56.90, for a total transaction of $256,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Terry Vais sold 5,800 shares of SkyWest stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $56.00, for a total value of $324,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,639 shares of company stock valued at $2,781,474. 3.60% of the stock is currently 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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