5,601 Shares in SkyWest, Inc. (NASDAQ:SKYW) Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC acquired a new stake in SkyWest, Inc. (NASDAQ:SKYW) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,601 shares of the transportation company’s stock, valued at approximately $561,000.

Several other institutional investors have also recently made changes to their positions in the business. Wealthfront Advisers LLC acquired a new position in SkyWest in the fourth quarter valued at approximately $146,935,000. Norges Bank purchased a new position in SkyWest in the fourth quarter valued at $23,851,000. Arrowstreet Capital Limited Partnership raised its position in shares of SkyWest by 57.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 525,722 shares of the transportation company’s stock worth $52,641,000 after acquiring an additional 192,543 shares during the period. FMR LLC boosted its stake in shares of SkyWest by 42.2% during the 3rd quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock worth $41,162,000 after acquiring an additional 143,661 shares in the last quarter. Finally, Barclays PLC grew its position in shares of SkyWest by 563.8% during the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock valued at $13,002,000 after acquiring an additional 129,901 shares during the period. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. StockNews.com cut SkyWest from a “buy” rating to a “hold” rating in a report on Thursday. Raymond James decreased their target price on SkyWest from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd.

Insiders Place Their Bets

In related news, VP Greg Wooley sold 14,545 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.73, for a total value of $1,537,842.85. Following the completion of the transaction, the vice president now directly owns 68,737 shares in the company, valued at approximately $7,267,563.01. This represents a 17.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert J. Simmons sold 6,000 shares of SkyWest stock in a transaction on Monday, February 10th. The shares were sold at an average price of $113.57, for a total value of $681,420.00. Following the completion of the sale, the chief financial officer now owns 175,067 shares in the company, valued at $19,882,359.19. This represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

SkyWest Stock Performance

Shares of SkyWest stock opened at $80.23 on Monday. The business’s 50 day moving average price is $98.92 and its 200 day moving average price is $100.90. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 10.33 and a beta of 1.83. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. SkyWest, Inc. has a one year low of $64.61 and a one year high of $135.57.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 EPS for the quarter, topping the consensus estimate of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same quarter last year, the firm posted $0.42 EPS. On average, research analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

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.