Bridgeway Capital Management LLC Trims Stake in SkyWest, Inc. $SKYW

Bridgeway Capital Management LLC cut its position in SkyWest, Inc. (NASDAQ:SKYW) by 15.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 242,163 shares of the transportation company’s stock after selling 44,715 shares during the quarter. SkyWest makes up 0.6% of Bridgeway Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding. Bridgeway Capital Management LLC owned about 0.60% of SkyWest worth $24,936,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SKYW. American Century Companies Inc. boosted its holdings in shares of SkyWest by 3.9% in the second quarter. American Century Companies Inc. now owns 1,565,354 shares of the transportation company’s stock valued at $161,185,000 after acquiring an additional 59,435 shares during the period. Geode Capital Management LLC increased its holdings in shares of SkyWest by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,009,759 shares of the transportation company’s stock valued at $103,992,000 after acquiring an additional 19,521 shares during the period. SW Investment Management LLC raised its position in SkyWest by 5.9% in the 2nd quarter. SW Investment Management LLC now owns 900,000 shares of the transportation company’s stock valued at $92,673,000 after purchasing an additional 50,000 shares during the last quarter. Invesco Ltd. boosted its stake in SkyWest by 1.5% during the 2nd quarter. Invesco Ltd. now owns 573,074 shares of the transportation company’s stock worth $59,009,000 after purchasing an additional 8,342 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of SkyWest by 5.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 540,820 shares of the transportation company’s stock worth $55,688,000 after buying an additional 29,616 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Trading Down 1.5%

NASDAQ:SKYW opened at $105.84 on Friday. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $135.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.61 and a current ratio of 0.71. The stock has a fifty day moving average price of $99.53 and a two-hundred day moving average price of $105.30. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 0.80 and a beta of 1.63.

SkyWest (NASDAQ:SKYW) last posted 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 business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. SkyWest had a net margin of 10.92% and a return on equity of 17.14%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 EPS. As a group, sell-side analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on SKYW shares. Cantor Fitzgerald set a $132.00 price target on SkyWest in a research report on Friday, October 31st. Cowen reissued a “buy” rating on shares of SkyWest in a report on Friday, October 31st. Wall Street Zen downgraded SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Citigroup assumed coverage on shares of SkyWest in a research report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price objective on the stock. Finally, Raymond James Financial upgraded shares of SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $127.17.

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.