Meeder Asset Management Inc. Buys 7,703 Shares of SkyWest, Inc. $SKYW

Meeder Asset Management Inc. lifted its stake in SkyWest, Inc. (NASDAQ:SKYW) by 148.7% in the third quarter, Holdings Channel.com reports. The firm owned 12,882 shares of the transportation company’s stock after buying an additional 7,703 shares during the period. Meeder Asset Management Inc.’s holdings in SkyWest were worth $1,296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SKYW. American Century Companies Inc. boosted its stake in SkyWest by 3.9% during the second quarter. American Century Companies Inc. now owns 1,565,354 shares of the transportation company’s stock worth $161,185,000 after buying an additional 59,435 shares during the period. Geode Capital Management LLC lifted its holdings in shares of SkyWest by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,009,759 shares of the transportation company’s stock worth $103,992,000 after acquiring an additional 19,521 shares during the last quarter. SW Investment Management LLC boosted its stake in shares of SkyWest by 5.9% during the 2nd quarter. SW Investment Management LLC now owns 900,000 shares of the transportation company’s stock worth $92,673,000 after purchasing an additional 50,000 shares during the period. Invesco Ltd. grew its holdings in SkyWest by 1.5% during the 2nd quarter. Invesco Ltd. now owns 573,074 shares of the transportation company’s stock valued at $59,009,000 after purchasing an additional 8,342 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in SkyWest by 5.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 540,820 shares of the transportation company’s stock worth $55,688,000 after purchasing an additional 29,616 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Stock Up 2.0%

Shares of SkyWest stock opened at $100.67 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.61. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $135.57. The firm’s 50-day moving average is $100.46 and its two-hundred day moving average is $105.65. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.69 and a beta of 1.66.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.25. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. SkyWest had a net margin of 10.92% and a return on equity of 17.14%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 EPS. As a group, research analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SKYW. Citigroup assumed coverage on SkyWest in a research report on Thursday, December 4th. They set a “neutral” rating and a $112.00 target price for the company. Cantor Fitzgerald set a $132.00 price target on SkyWest in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research report on Wednesday, October 8th. TD Cowen increased their target price on SkyWest from $124.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, SkyWest presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.17.

Insider Transactions at SkyWest

In other SkyWest news, Director Meredith Siegfried Madden sold 4,725 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $106.54, for a total transaction of $503,401.50. Following the sale, the director owned 25,362 shares of the company’s stock, valued at approximately $2,702,067.48. This trade represents a 15.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

About SkyWest

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.