Clearbridge Investments LLC Has $11.49 Million Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

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Clearbridge Investments LLC trimmed its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 18.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,726 shares of the transportation company’s stock after selling 96,401 shares during the quarter. Clearbridge Investments LLC owned approximately 0.88% of SkyWest worth $11,490,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SKYW. First Trust Advisors LP increased its position in SkyWest by 9.9% during the 1st quarter. First Trust Advisors LP now owns 76,307 shares of the transportation company’s stock worth $4,143,000 after purchasing an additional 6,888 shares in the last quarter. Swiss National Bank grew its holdings in SkyWest by 0.8% during the 4th quarter. Swiss National Bank now owns 24,300 shares of the transportation company’s stock worth $1,571,000 after acquiring an additional 200 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in SkyWest by 15.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,932 shares of the transportation company’s stock worth $23,198,000 after acquiring an additional 48,843 shares during the last quarter. FMR LLC grew its holdings in SkyWest by 25.5% during the 4th quarter. FMR LLC now owns 1,155,174 shares of the transportation company’s stock worth $74,658,000 after acquiring an additional 234,844 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in SkyWest by 17.1% during the 4th quarter. Bank of Montreal Can now owns 9,638 shares of the transportation company’s stock worth $622,000 after acquiring an additional 1,408 shares during the last quarter. Institutional investors and hedge funds own 87.28% of the company’s stock.

NASDAQ:SKYW opened at $30.58 on Monday. The firm’s fifty day moving average is $32.11 and its 200-day moving average is $42.92. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.65 and a current ratio of 0.75. SkyWest, Inc. has a 52 week low of $10.58 and a 52 week high of $66.52. The firm has a market cap of $1.53 billion, a P/E ratio of 5.54 and a beta of 1.84.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, May 7th. The transportation company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.32). SkyWest had a net margin of 9.47% and a return on equity of 13.26%. The firm had revenue of $729.94 million during the quarter, compared to the consensus estimate of $700.10 million. During the same period in the prior year, the company posted $1.33 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that SkyWest, Inc. will post 1.22 earnings per share for the current year.

A number of equities research analysts have weighed in on the stock. ValuEngine raised shares of SkyWest from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Raymond James reduced their target price on shares of SkyWest from $75.00 to $40.00 and set a “strong-buy” rating on the stock in a report on Monday, March 23rd. Stifel Nicolaus reissued a “buy” rating and set a $55.00 target price on shares of SkyWest in a report on Thursday, March 12th. Goldman Sachs Group raised shares of SkyWest from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $73.00 to $58.00 in a report on Monday, March 16th. Finally, BidaskClub raised shares of SkyWest from a “sell” rating to a “hold” rating in a report on Friday, May 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. SkyWest presently has a consensus rating of “Buy” and an average target price of $55.00.

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.

Further Reading: Understanding each part of a balance sheet

Institutional Ownership by Quarter for SkyWest (NASDAQ:SKYW)

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