Quantbot Technologies LP Acquires New Shares in SkyWest, Inc. $SKYW

Quantbot Technologies LP acquired a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 7,262 shares of the transportation company’s stock, valued at approximately $731,000.

Other large investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC bought a new position in SkyWest in the third quarter valued at about $38,000. Elevation Point Wealth Partners LLC bought a new stake in shares of SkyWest during the second quarter worth about $40,000. EverSource Wealth Advisors LLC increased its stake in shares of SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after buying an additional 339 shares during the period. Farther Finance Advisors LLC raised its holdings in SkyWest by 666.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company’s stock valued at $116,000 after buying an additional 999 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in SkyWest by 105.8% in the 3rd quarter. Blue Trust Inc. now owns 1,167 shares of the transportation company’s stock valued at $117,000 after buying an additional 600 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of SkyWest in a report on Thursday, January 22nd. Zacks Research lowered shares of SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. TD Cowen dropped their price target on SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Citigroup assumed coverage on SkyWest in a report on Thursday, December 4th. They set a “neutral” rating and a $112.00 price target on the stock. Finally, Cantor Fitzgerald set a $122.00 price objective on shares of SkyWest in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, SkyWest presently has a consensus rating of “Moderate Buy” and an average target price of $123.83.

Insider Transactions at SkyWest

In other news, Director Meredith Siegfried Madden sold 4,725 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $106.54, for a total value of $503,401.50. Following the completion of the sale, the director directly owned 25,362 shares of the company’s stock, valued at $2,702,067.48. This represents a 15.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Wade J. Steel sold 20,629 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total value of $2,197,607.37. Following the completion of the sale, the insider directly owned 77,438 shares of the company’s stock, valued at $8,249,470.14. The trade was a 21.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,725 shares of company stock valued at $3,493,834 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

SkyWest Price Performance

Shares of SKYW opened at $92.03 on Friday. SkyWest, Inc. has a 12-month low of $74.70 and a 12-month high of $123.94. The business’s fifty day moving average is $101.50 and its 200 day moving average is $102.98. The company has a quick ratio of 0.55, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. The stock has a market cap of $3.72 billion, a P/E ratio of 8.89, a P/E/G ratio of 0.61 and a beta of 1.58.

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

About SkyWest

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.