Jennison Associates LLC Grows Stock Holdings in SkyWest, Inc. $SKYW

Jennison Associates LLC boosted its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 57.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,517 shares of the transportation company’s stock after buying an additional 6,385 shares during the period. Jennison Associates LLC’s holdings in SkyWest were worth $1,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Salomon & Ludwin LLC purchased a new position in shares of SkyWest during the 3rd quarter valued at $38,000. Johnson Financial Group Inc. purchased a new position in shares of SkyWest during the 3rd quarter valued at $62,000. EverSource Wealth Advisors LLC grew its position in shares of SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 339 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of SkyWest during the 4th quarter valued at $83,000. Finally, Farther Finance Advisors LLC grew its position in shares of SkyWest by 666.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 999 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Wade J. Steel sold 20,629 shares of SkyWest stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the completion of the sale, the insider directly owned 77,438 shares of the company’s stock, valued at approximately $8,249,470.14. The trade was a 21.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

SkyWest Stock Performance

NASDAQ SKYW opened at $83.54 on Monday. SkyWest, Inc. has a 52-week low of $80.00 and a 52-week high of $123.94. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.51 and a current ratio of 0.62. The company has a market capitalization of $3.31 billion, a P/E ratio of 8.01, a P/E/G ratio of 1.20 and a beta of 1.48. The company has a fifty day moving average of $93.76 and a 200-day moving average of $98.27.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, April 23rd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. SkyWest had a net margin of 10.42% and a return on equity of 15.55%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $993.06 million. During the same period in the previous year, the firm posted $2.42 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. As a group, equities research analysts predict that SkyWest, Inc. will post 10.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SKYW shares. Citigroup reduced their price target on shares of SkyWest from $101.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a research report on Monday, January 26th. Finally, TD Cowen reduced their price target on shares of SkyWest from $106.00 to $98.00 and set a “buy” rating for the company in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.00.

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.