LMG Wealth Partners LLC Increases Position in SkyWest, Inc. $SKYW

LMG Wealth Partners LLC raised its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 1.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,235 shares of the transportation company’s stock after buying an additional 202 shares during the period. LMG Wealth Partners LLC’s holdings in SkyWest were worth $2,187,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SKYW. Fifth Third Bancorp raised its holdings in shares of SkyWest by 38.4% in the 2nd quarter. Fifth Third Bancorp now owns 551 shares of the transportation company’s stock valued at $57,000 after buying an additional 153 shares during the period. Blue Trust Inc. grew its position in SkyWest by 478.6% in the 2nd quarter. Blue Trust Inc. now owns 567 shares of the transportation company’s stock valued at $58,000 after acquiring an additional 469 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in SkyWest during the second quarter worth about $71,000. GAMMA Investing LLC lifted its position 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 worth $152,000 after purchasing an additional 180 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of SkyWest by 32.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company’s stock valued at $169,000 after purchasing an additional 473 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

SkyWest Price Performance

Shares of SKYW opened at $99.07 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The firm’s fifty day simple moving average is $109.01 and its 200-day simple moving average is $103.19. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.98 and a beta of 1.86. SkyWest, Inc. has a twelve month low of $74.70 and a twelve month high of $135.57.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.57. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $979.95 million. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.SkyWest’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm earned $1.82 earnings per share. Equities analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling at SkyWest

In related news, CEO Russell A. Childs sold 26,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $116.06, for a total transaction of $3,017,560.00. Following the completion of the sale, the chief executive officer owned 404,883 shares in the company, valued at $46,990,720.98. The trade was a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wade J. Steel sold 17,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $118.26, for a total transaction of $2,010,420.00. Following the completion of the transaction, the insider owned 102,416 shares in the company, valued at $12,111,716.16. This represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,186 shares of company stock worth $10,440,398. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.