Intech Investment Management LLC Raises Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

Intech Investment Management LLC lifted its holdings in SkyWest, Inc. (NASDAQ:SKYW) by 56.3% during the third quarter, Holdings Channel reports. The institutional investor owned 18,832 shares of the transportation company’s stock after acquiring an additional 6,781 shares during the quarter. Intech Investment Management LLC’s holdings in SkyWest were worth $1,601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Royce & Associates LP grew its position in shares of SkyWest by 123.0% in the 3rd quarter. Royce & Associates LP now owns 15,571 shares of the transportation company’s stock worth $1,324,000 after buying an additional 8,587 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of SkyWest in the 3rd quarter worth about $371,000. Assetmark Inc. grew its position in shares of SkyWest by 12.4% in the 3rd quarter. Assetmark Inc. now owns 19,324 shares of the transportation company’s stock worth $1,643,000 after buying an additional 2,138 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of SkyWest in the 3rd quarter worth about $628,000. Finally, Summit Global Investments purchased a new stake in shares of SkyWest in the 3rd quarter worth about $539,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SkyWest

In other SkyWest news, insider Wade J. Steel sold 19,079 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the transaction, the insider now owns 97,654 shares in the company, valued at approximately $10,202,889.92. This represents a 16.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald J. Mittelstaedt sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total transaction of $2,801,500.00. Following the completion of the transaction, the director now owns 11,283 shares in the company, valued at $1,264,372.98. This trade represents a 68.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,467 shares of company stock worth $10,082,596. Company insiders own 2.00% of the company’s stock.

SkyWest Stock Performance

Shares of SkyWest stock opened at $114.19 on Tuesday. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 19.32 and a beta of 1.93. The firm’s 50-day moving average is $95.13 and its 200 day moving average is $83.83. SkyWest, Inc. has a 1 year low of $45.42 and a 1 year high of $116.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76.

SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.24. The business had revenue of $912.79 million for the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. Sell-side analysts anticipate that SkyWest, Inc. will post 7.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen upped their target price on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Raymond James upped their price target on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $119.00 price target on shares of SkyWest in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.75.

SkyWest Company Profile

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.