Hudson Bay Capital Management LP Buys Shares of 50,074 SkyWest, Inc. $SKYW

Hudson Bay Capital Management LP acquired a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 50,074 shares of the transportation company’s stock, valued at approximately $5,156,000.

A number of other institutional investors also recently bought and sold shares of the company. Public Sector Pension Investment Board raised its stake in shares of SkyWest by 6.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 156,631 shares of the transportation company’s stock worth $16,128,000 after buying an additional 9,862 shares during the last quarter. Evergreen Capital Management LLC grew its stake in SkyWest by 2.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,827 shares of the transportation company’s stock valued at $600,000 after acquiring an additional 113 shares during the last quarter. Headlands Technologies LLC increased its holdings in SkyWest by 176.8% during the 2nd quarter. Headlands Technologies LLC now owns 11,516 shares of the transportation company’s stock valued at $1,186,000 after acquiring an additional 7,356 shares in the last quarter. Tower Research Capital LLC TRC raised its position in SkyWest by 233.9% during the second quarter. Tower Research Capital LLC TRC now owns 4,845 shares of the transportation company’s stock worth $499,000 after acquiring an additional 3,394 shares during the last quarter. Finally, Corient Private Wealth LLC purchased a new stake in shares of SkyWest in the second quarter valued at about $450,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SKYW has been the subject of several research reports. Cantor Fitzgerald set a $132.00 price objective on SkyWest in a research report on Friday, October 31st. Wall Street Zen cut SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings restated a “buy (b-)” rating on shares of SkyWest in a research report on Wednesday, October 8th. Citigroup assumed coverage on SkyWest in a research report on Thursday, December 4th. They set a “neutral” rating and a $112.00 price objective for the company. Finally, TD Cowen boosted their target price on shares of SkyWest from $124.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, SkyWest has a consensus rating of “Buy” and a consensus price target of $127.17.

Insider Activity

In other news, Director Meredith Siegfried Madden sold 4,725 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $106.54, for a total value of $503,401.50. Following the completion of the sale, the director owned 25,362 shares of the company’s stock, valued at approximately $2,702,067.48. The trade was a 15.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

SkyWest Trading Down 2.3%

Shares of SKYW stock opened at $103.44 on Tuesday. The firm’s 50 day moving average price is $99.60 and its two-hundred day moving average price is $105.36. SkyWest, Inc. has a fifty-two week low of $74.70 and a fifty-two week high of $135.57. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.79 and a beta of 1.63.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.25. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. SkyWest had a return on equity of 17.14% and a net margin of 10.92%.SkyWest’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.16 EPS. On average, analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current year.

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.