LSV Asset Management trimmed its stake in SkyWest, Inc. (NASDAQ:SKYW) by 2.3% during the first quarter, HoldingsChannel.com reports. The fund owned 1,105,087 shares of the transportation company’s stock after selling 25,800 shares during the period. LSV Asset Management’s holdings in SkyWest were worth $60,116,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio raised its stake in shares of SkyWest by 450.0% in the 4th quarter. Strs Ohio now owns 3,300 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 2,700 shares during the period. Suntrust Banks Inc. purchased a new stake in shares of SkyWest in the 4th quarter valued at approximately $218,000. HBK Investments L P purchased a new stake in shares of SkyWest in the 4th quarter valued at approximately $218,000. Teacher Retirement System of Texas purchased a new stake in shares of SkyWest in the 4th quarter valued at approximately $234,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of SkyWest in the 1st quarter valued at approximately $267,000. 89.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of SkyWest opened at $56.35 on Friday, Marketbeat reports. The company has a quick ratio of 1.07, a current ratio of 1.14 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $2.96 billion, a P/E ratio of 16.43 and a beta of 1.70. SkyWest, Inc. has a fifty-two week low of $31.75 and a fifty-two week high of $60.65.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, April 26th. The transportation company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.17. The firm had revenue of $783.40 million during the quarter, compared to analysts’ expectations of $767.41 million. SkyWest had a net margin of 13.92% and a return on equity of 12.52%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. research analysts predict that SkyWest, Inc. will post 4.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Friday, June 29th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, June 28th. SkyWest’s dividend payout ratio (DPR) is currently 11.66%.
In other SkyWest news, COO Terry Vais sold 5,800 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $56.00, for a total transaction of $324,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert J. Simmons sold 39,339 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $55.94, for a total transaction of $2,200,623.66. The disclosure for this sale can be found here. Insiders sold 49,639 shares of company stock valued at $2,781,474 in the last 90 days. Company insiders own 3.50% of the company’s stock.
A number of research analysts recently weighed in on the stock. Raymond James lifted their price objective on shares of SkyWest from $62.00 to $65.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Zacks Investment Research cut shares of SkyWest from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. BidaskClub cut shares of SkyWest from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Finally, Cowen lifted their price objective on shares of SkyWest from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $61.20.
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.
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