Illinois Municipal Retirement Fund Trims Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Illinois Municipal Retirement Fund reduced its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,947 shares of the transportation company’s stock after selling 2,650 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of SkyWest worth $1,250,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Invesco Ltd. raised its stake in SkyWest by 40.6% during the 3rd quarter. Invesco Ltd. now owns 923,722 shares of the transportation company’s stock worth $38,741,000 after acquiring an additional 266,762 shares during the period. EP Wealth Advisors LLC raised its holdings in SkyWest by 5,203.4% during the third quarter. EP Wealth Advisors LLC now owns 256,631 shares of the transportation company’s stock valued at $10,763,000 after acquiring an additional 251,792 shares during the period. American Century Companies Inc. lifted its position in shares of SkyWest by 16.4% in the third quarter. American Century Companies Inc. now owns 721,053 shares of the transportation company’s stock valued at $30,241,000 after acquiring an additional 101,459 shares in the last quarter. Algert Global LLC bought a new position in shares of SkyWest in the third quarter worth about $3,689,000. Finally, Dark Forest Capital Management LP grew its position in shares of SkyWest by 105.8% during the third quarter. Dark Forest Capital Management LP now owns 64,272 shares of the transportation company’s stock worth $2,696,000 after purchasing an additional 33,039 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.

SkyWest Trading Up 0.7 %

SKYW stock opened at $73.66 on Friday. The firm has a fifty day moving average price of $67.02 and a 200 day moving average price of $55.10. SkyWest, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $79.21. The firm has a market cap of $2.97 billion, a PE ratio of 26.59 and a beta of 1.95. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.80 and a current ratio of 0.90.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.24 by $0.21. The business had revenue of $804.00 million during the quarter, compared to analyst estimates of $800.07 million. SkyWest had a net margin of 3.83% and a return on equity of 5.46%. SkyWest’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.45) earnings per share. Sell-side analysts anticipate that SkyWest, Inc. will post 6.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James L. Welch sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.72, for a total transaction of $133,440.00. Following the transaction, the director now owns 56,067 shares of the company’s stock, valued at approximately $3,740,790.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SKYW shares. Raymond James boosted their price target on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. TheStreet raised shares of SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd. StockNews.com raised shares of SkyWest from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. TD Cowen upgraded shares of SkyWest from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $68.00 in a report on Monday, February 5th. Finally, Evercore ISI increased their price objective on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.25.

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.