Allianz Asset Management GmbH Grows Holdings in SkyWest, Inc. $SKYW

Allianz Asset Management GmbH grew its stake in SkyWest, Inc. (NASDAQ:SKYW) by 379.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,056 shares of the transportation company’s stock after buying an additional 63,375 shares during the period. Allianz Asset Management GmbH owned approximately 0.20% of SkyWest worth $8,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp grew its stake in SkyWest by 38.4% in the 2nd quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock worth $57,000 after buying an additional 153 shares in the last quarter. Blue Trust Inc. grew its stake in SkyWest by 478.6% in the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock worth $58,000 after buying an additional 469 shares in the last quarter. TD Private Client Wealth LLC purchased a new position in SkyWest in the 2nd quarter worth approximately $71,000. GAMMA Investing LLC grew its stake in SkyWest by 11.5% in the 1st quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company’s stock worth $152,000 after buying an additional 180 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in SkyWest by 32.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company’s stock worth $169,000 after buying an additional 473 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insider Activity at SkyWest

In related news, VP Greg Wooley sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $116.83, for a total transaction of $233,660.00. Following the completion of the sale, the vice president directly owned 66,737 shares in the company, valued at $7,796,883.71. This represents a 2.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James L. Welch sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $116.09, for a total transaction of $1,160,900.00. Following the sale, the director owned 27,717 shares of the company’s stock, valued at $3,217,666.53. This represents a 26.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,186 shares of company stock worth $10,440,398 over the last ninety days. Insiders own 1.20% of the company’s stock.

SkyWest Price Performance

Shares of SkyWest stock opened at $101.60 on Wednesday. SkyWest, Inc. has a 52-week low of $74.70 and a 52-week high of $135.57. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 1.00 and a beta of 1.86. The company has a fifty day moving average of $108.53 and a 200-day moving average of $103.33. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.73.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.57. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $979.95 million. During the same period in the prior year, the business posted $1.82 EPS. The firm’s revenue was up 19.4% compared to the same quarter last year. Equities research analysts expect that SkyWest, Inc. will post 9.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SKYW. Weiss Ratings reissued a “buy (b-)” rating on shares of SkyWest in a research note on Wednesday, October 8th. Evercore ISI upped their price objective on shares of SkyWest from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Raymond James Financial raised shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, SkyWest has a consensus rating of “Buy” and an average target price of $126.75.

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.