Louisiana State Employees Retirement System increased its position in SkyWest Inc. (NASDAQ:SKYW) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 22,800 shares of the company’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in SkyWest were worth $603,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of SKYW. Prudential Financial Inc. boosted its stake in SkyWest by 36.7% in the first quarter. Prudential Financial Inc. now owns 644,892 shares of the company’s stock valued at $12,892,000 after buying an additional 173,189 shares during the period. CIBC World Markets Inc. acquired a new stake in SkyWest during the second quarter valued at approximately $2,431,000. JPMorgan Chase & Co. boosted its stake in SkyWest by 37.6% in the first quarter. JPMorgan Chase & Co. now owns 304,809 shares of the company’s stock valued at $6,094,000 after buying an additional 83,355 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in SkyWest during the first quarter valued at approximately $1,552,000. Finally, Phocas Financial Corp. boosted its stake in SkyWest by 16.5% in the first quarter. Phocas Financial Corp. now owns 412,451 shares of the company’s stock valued at $8,245,000 after buying an additional 58,277 shares during the period. Hedge funds and other institutional investors own 86.16% of the company’s stock.
SkyWest Inc. (NASDAQ:SKYW) traded down 2.25% during trading on Friday, hitting $28.25. The stock had a trading volume of 234,904 shares. SkyWest Inc. has a 12-month low of $13.23 and a 12-month high of $29.87. The company has a 50 day moving average of $27.67 and a 200-day moving average of $25.41. The company has a market cap of $1.46 billion, a P/E ratio of 10.18 and a beta of 1.73.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The business earned $801.34 million during the quarter, compared to analyst estimates of $764.04 million. SkyWest had a return on equity of 8.47% and a net margin of 4.63%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. On average, equities analysts predict that SkyWest Inc. will post $2.64 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 30th were issued a $0.05 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.71%. SkyWest’s dividend payout ratio (DPR) is 7.19%.
Several research firms have commented on SKYW. Deutsche Bank AG lifted their price target on SkyWest from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, July 29th. Zacks Investment Research upgraded SkyWest from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Tuesday, August 2nd. Five equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $28.40.
In other news, CFO Robert J. Simmons acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average price of $27.69 per share, for a total transaction of $27,690.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry J. Eyring sold 6,267 shares of the company’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $11.49, for a total value of $72,007.83. Following the completion of the sale, the director now owns 35,549 shares of the company’s stock, valued at approximately $408,458.01. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.
Skywest, Inc is a holding company for approximately two scheduled passenger airline operations and an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and ExpressJet. SkyWest Airlines provides regional jet and turboprop service to airports located in the Midwestern and Western United States.
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