Harvest Fund Management Co. Ltd Boosts Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Harvest Fund Management Co. Ltd boosted its position in SkyWest, Inc. (NASDAQ:SKYW) by 391.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,480 shares of the transportation company’s stock after purchasing an additional 6,754 shares during the period. Harvest Fund Management Co. Ltd’s holdings in SkyWest were worth $849,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SKYW. Wilmington Savings Fund Society FSB bought a new stake in SkyWest during the 3rd quarter valued at $31,000. Private Trust Co. NA raised its holdings in SkyWest by 157.1% during the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 300 shares during the period. Sound Income Strategies LLC bought a new position in shares of SkyWest in the fourth quarter worth $50,000. Jones Financial Companies Lllp increased its holdings in shares of SkyWest by 117.2% in the fourth quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company’s stock worth $83,000 after purchasing an additional 449 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of SkyWest by 193.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company’s stock worth $87,000 after purchasing an additional 569 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Down 0.1 %

Shares of NASDAQ:SKYW opened at $90.39 on Friday. SkyWest, Inc. has a 52-week low of $64.61 and a 52-week high of $135.57. The firm has a fifty day moving average of $103.69 and a 200 day moving average of $99.58. The firm has a market capitalization of $3.65 billion, a PE ratio of 11.63 and a beta of 2.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.59. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. During the same period last year, the firm earned $0.42 earnings per share. As a group, research analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Greg Wooley sold 14,545 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total value of $1,537,842.85. Following the completion of the transaction, the vice president now directly owns 68,737 shares in the company, valued at approximately $7,267,563.01. The trade was a 17.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert J. Simmons sold 6,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the sale, the chief financial officer now owns 175,067 shares of the company’s stock, valued at approximately $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Raymond James reaffirmed an “outperform” rating and issued a $130.00 price target (up previously from $120.00) on shares of SkyWest in a report on Friday, January 31st.

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.