Dynamic Technology Lab Private Ltd Takes Position in SkyWest, Inc. (NASDAQ:SKYW)

Dynamic Technology Lab Private Ltd bought a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,914 shares of the transportation company’s stock, valued at approximately $758,000.

Other hedge funds also recently added to or reduced their stakes in the company. Boston Partners purchased a new position in SkyWest in the 1st quarter worth approximately $1,275,000. Pitcairn Co. purchased a new position in SkyWest in the 3rd quarter worth approximately $535,000. Nicholas Investment Partners LP raised its holdings in SkyWest by 82.9% in the 2nd quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock worth $15,451,000 after acquiring an additional 85,356 shares during the last quarter. Acadian Asset Management LLC purchased a new position in SkyWest in the 2nd quarter worth approximately $520,000. Finally, Cornercap Investment Counsel Inc. purchased a new position in SkyWest in the 2nd quarter worth approximately $1,044,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Price Performance

Shares of SkyWest stock opened at $113.96 on Friday. The stock has a market cap of $4.60 billion, a P/E ratio of 19.48 and a beta of 1.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. The stock’s fifty day moving average is $97.89 and its 200 day moving average is $84.77. SkyWest, Inc. has a one year low of $45.42 and a one year high of $117.51.

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

Analysts Set New Price Targets

SKYW has been the subject of a number of research reports. The Goldman Sachs Group reiterated a “neutral” rating and set a $119.00 target price on shares of SkyWest in a research note on Friday, November 15th. TD Cowen boosted their target price on shares of SkyWest from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Raymond James boosted their target price on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, SkyWest currently has an average rating of “Moderate Buy” and a consensus price target of $105.75.

Insiders Place Their Bets

In other SkyWest news, Director Ronald J. Mittelstaedt sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $112.06, for a total value of $2,801,500.00. Following the sale, the director now owns 11,283 shares in the company, valued at $1,264,372.98. The trade was a 68.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Eric Woodward sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total transaction of $446,120.00. Following the sale, the chief accounting officer now owns 44,426 shares in the company, valued at $4,954,831.78. This represents a 8.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,467 shares of company stock worth $10,082,596. Corporate insiders own 2.50% of the company’s stock.

SkyWest 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.