Millburn Ridgefield Corp Invests $168,000 in SkyWest, Inc. (NASDAQ:SKYW)

Millburn Ridgefield Corp purchased a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,978 shares of the transportation company’s stock, valued at approximately $168,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pacer Advisors Inc. increased its stake in SkyWest by 2.3% during the second quarter. Pacer Advisors Inc. now owns 2,252,410 shares of the transportation company’s stock worth $184,855,000 after acquiring an additional 51,180 shares during the last quarter. American Century Companies Inc. increased its position in shares of SkyWest by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 1,151,578 shares of the transportation company’s stock valued at $94,510,000 after purchasing an additional 165,670 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in SkyWest by 12.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock valued at $58,051,000 after buying an additional 76,007 shares during the period. SW Investment Management LLC lifted its position in SkyWest by 13.2% in the second quarter. SW Investment Management LLC now owns 600,000 shares of the transportation company’s stock worth $49,242,000 after buying an additional 70,000 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in SkyWest by 90.2% during the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock worth $45,225,000 after buying an additional 261,349 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

SkyWest Stock Down 2.0 %

Shares of SkyWest stock opened at $112.19 on Wednesday. SkyWest, Inc. has a 1 year low of $47.32 and a 1 year high of $117.51. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 19.18 and a beta of 1.96. The firm’s 50-day moving average is $99.76 and its two-hundred day moving average is $85.66.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The company had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. SkyWest’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share. As a group, research analysts expect that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the transaction, the insider now directly owns 97,654 shares in the company, valued at $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Eric Woodward sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total transaction of $446,120.00. Following the sale, the chief accounting officer now owns 44,426 shares in the company, valued at approximately $4,954,831.78. This represents a 8.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,467 shares of company stock valued at $10,082,596. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

SKYW has been the topic of several recent analyst reports. TD Cowen increased their target price on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Raymond James upped their target price on SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $119.00 price target on shares of SkyWest in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, SkyWest currently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

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.