Concurrent Investment Advisors LLC Grows Stake in SkyWest, Inc. $SKYW

Concurrent Investment Advisors LLC grew its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 32.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,566 shares of the transportation company’s stock after acquiring an additional 865 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in SkyWest were worth $367,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in SkyWest by 1,075.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 60,181 shares of the transportation company’s stock valued at $5,302,000 after purchasing an additional 55,062 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of SkyWest by 5.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,322 shares of the transportation company’s stock worth $290,000 after buying an additional 186 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of SkyWest by 11.5% during the first quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company’s stock valued at $152,000 after buying an additional 180 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of SkyWest by 47.2% during the first quarter. Intech Investment Management LLC now owns 47,497 shares of the transportation company’s stock valued at $4,150,000 after buying an additional 15,239 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in shares of SkyWest during the first quarter valued at approximately $209,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Stock Performance

Shares of NASDAQ SKYW opened at $99.07 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. SkyWest, Inc. has a 12-month low of $74.70 and a 12-month high of $135.57. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.98 and a beta of 1.86. The firm has a 50 day moving average of $109.01 and a 200 day moving average of $103.06.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.57. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $979.95 million. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 EPS. On average, research analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Insider Buying and Selling at SkyWest

In other SkyWest news, Director James L. Welch sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $116.09, for a total transaction of $1,160,900.00. Following the completion of the sale, the director owned 27,717 shares of the company’s stock, valued at approximately $3,217,666.53. The trade was a 26.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Greg Wooley sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total value of $233,660.00. Following the completion of the transaction, the vice president directly owned 66,737 shares in the company, valued at $7,796,883.71. This trade represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,186 shares of company stock valued at $10,440,398 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SKYW has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research report on Wednesday, October 8th. Zacks Research cut SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Evercore ISI upped their price target on SkyWest from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Finally, Raymond James Financial raised SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $126.75.

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.