Strs Ohio Purchases 1,600 Shares of SkyWest, Inc. (NASDAQ:SKYW)

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Strs Ohio raised its position in SkyWest, Inc. (NASDAQ:SKYW) by 10.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,500 shares of the transportation company’s stock after buying an additional 1,600 shares during the quarter. Strs Ohio’s holdings in SkyWest were worth $1,061,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. 6 Meridian bought a new position in SkyWest in the 1st quarter valued at about $230,000. Virtu Financial LLC bought a new position in SkyWest in the 1st quarter valued at about $305,000. Cooper Haims Advisors LLC bought a new position in SkyWest in the 1st quarter valued at about $271,000. Clearbridge Investments LLC increased its holdings in SkyWest by 9.4% in the 1st quarter. Clearbridge Investments LLC now owns 389,853 shares of the transportation company’s stock valued at $21,165,000 after buying an additional 33,633 shares during the period. Finally, SG Americas Securities LLC bought a new position in SkyWest in the 1st quarter valued at about $381,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SkyWest stock opened at $55.83 on Wednesday. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 10.53 and a beta of 1.59. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 1.45. The firm’s 50 day moving average is $60.03. SkyWest, Inc. has a 1 year low of $42.38 and a 1 year high of $65.80.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Wednesday, July 31st. The transportation company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.11. The company had revenue of $725.34 million for the quarter, compared to analyst estimates of $736.71 million. SkyWest had a net margin of 10.53% and a return on equity of 15.47%. The firm’s revenue was down 10.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 EPS. As a group, equities research analysts predict that SkyWest, Inc. will post 6.18 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 30th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, September 27th. SkyWest’s dividend payout ratio (DPR) is presently 9.06%.

In related news, COO Michael B. Thompson sold 9,868 shares of SkyWest stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $60.74, for a total transaction of $599,382.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert J. Simmons sold 22,577 shares of SkyWest stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $60.53, for a total transaction of $1,366,585.81. The disclosure for this sale can be found here. Insiders have sold a total of 87,634 shares of company stock worth $5,319,783 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Several equities analysts have commented on the stock. ValuEngine lowered shares of SkyWest from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Evercore ISI reissued a “buy” rating and issued a $72.00 target price on shares of SkyWest in a report on Thursday, August 8th. BidaskClub lowered shares of SkyWest from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Finally, Imperial Capital reissued an “outperform” rating and issued a $74.00 target price (up from $69.00) on shares of SkyWest in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company. SkyWest currently has a consensus rating of “Buy” and a consensus price target of $67.63.

About SkyWest

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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Institutional Ownership by Quarter for SkyWest (NASDAQ:SKYW)

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