LSV Asset Management Raises Holdings in SkyWest, Inc. $SKYW

LSV Asset Management lifted its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 4.5% in the 3rd quarter, Holdings Channel reports. The fund owned 160,572 shares of the transportation company’s stock after buying an additional 6,858 shares during the quarter. LSV Asset Management’s holdings in SkyWest were worth $16,157,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH lifted its holdings in SkyWest by 214.5% during the third quarter. Allianz Asset Management GmbH now owns 251,760 shares of the transportation company’s stock valued at $25,332,000 after purchasing an additional 171,704 shares during the last quarter. Owl Creek Asset Management L.P. bought a new stake in shares of SkyWest in the second quarter valued at approximately $9,856,000. JPMorgan Chase & Co. raised its position in shares of SkyWest by 60.0% in the second quarter. JPMorgan Chase & Co. now owns 214,550 shares of the transportation company’s stock valued at $22,092,000 after purchasing an additional 80,486 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of SkyWest by 40.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 255,251 shares of the transportation company’s stock valued at $26,283,000 after buying an additional 73,374 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in SkyWest in the 2nd quarter worth approximately $6,495,000. 81.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SKYW has been the subject of a number of recent research reports. TD Cowen reduced their price objective on shares of SkyWest from $132.00 to $122.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Zacks Research lowered SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Wall Street Zen cut SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Cantor Fitzgerald set a $122.00 target price on SkyWest in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.83.

Insider Activity

In related news, Director Meredith Siegfried Madden sold 4,725 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $106.54, for a total value of $503,401.50. Following the transaction, the director directly owned 25,362 shares in the company, valued at approximately $2,702,067.48. This represents a 15.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

SkyWest Trading Up 0.1%

SkyWest stock opened at $104.17 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.65. SkyWest, Inc. has a fifty-two week low of $74.70 and a fifty-two week high of $123.94. The stock has a market cap of $4.18 billion, a P/E ratio of 10.06, a PEG ratio of 0.70 and a beta of 1.65. The firm’s fifty day moving average price is $101.86 and its 200-day moving average price is $104.14.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, January 29th. The transportation company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.04). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $993.12 million. SkyWest had a net margin of 10.56% and a return on equity of 16.35%. SkyWest’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.34 EPS. Equities research analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

SkyWest Profile

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.