Vanguard Group Inc. Has $498.69 Million Position in SkyWest, Inc. $SKYW

Vanguard Group Inc. increased its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,966,485 shares of the transportation company’s stock after purchasing an additional 152,863 shares during the period. Vanguard Group Inc. owned approximately 12.39% of SkyWest worth $498,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Johnson Financial Group Inc. bought a new stake in shares of SkyWest in the 3rd quarter valued at approximately $62,000. EverSource Wealth Advisors LLC raised its stake in SkyWest by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after acquiring an additional 339 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of SkyWest during the fourth quarter valued at $83,000. Farther Finance Advisors LLC lifted its holdings in shares of SkyWest by 666.0% during the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 999 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of SkyWest by 17.6% in the 4th quarter. Blue Trust Inc. now owns 1,372 shares of the transportation company’s stock valued at $138,000 after purchasing an additional 205 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SKYW. Cantor Fitzgerald set a $122.00 target price on shares of SkyWest in a report on Monday, January 26th. Citigroup reduced their price target on shares of SkyWest from $101.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research note on Thursday, January 22nd. Finally, TD Cowen dropped their price objective on shares of SkyWest from $106.00 to $98.00 and set a “buy” rating for the company in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Insiders Place Their Bets

In related news, insider Wade J. Steel sold 20,629 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total value of $2,197,607.37. Following 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 can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

SkyWest Trading Up 2.3%

SKYW stock opened at $83.22 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 0.66. SkyWest, Inc. has a twelve month low of $80.00 and a twelve month high of $123.94. The company has a market cap of $3.30 billion, a P/E ratio of 7.98, a PEG ratio of 1.17 and a beta of 1.48. The business has a fifty day moving average of $93.36 and a 200-day moving average of $98.14.

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

SkyWest Company Profile

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.