Versor Investments LP Makes New Investment in SkyWest, Inc. $SKYW

Versor Investments LP acquired a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 7,054 shares of the transportation company’s stock, valued at approximately $726,000.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position 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 valued at $290,000 after purchasing an additional 186 shares in the last quarter. Intech Investment Management LLC lifted its stake in SkyWest by 47.2% during the first quarter. Intech Investment Management LLC now owns 47,497 shares of the transportation company’s stock worth $4,150,000 after purchasing an additional 15,239 shares in the last quarter. Vontobel Holding Ltd. acquired a new position in SkyWest during the first quarter worth $209,000. Meeder Asset Management Inc. lifted its stake in SkyWest by 25.7% during the first quarter. Meeder Asset Management Inc. now owns 5,234 shares of the transportation company’s stock worth $457,000 after purchasing an additional 1,070 shares in the last quarter. Finally, Invst LLC raised its stake in shares of SkyWest by 52.9% in the first quarter. Invst LLC now owns 9,457 shares of the transportation company’s stock valued at $826,000 after acquiring an additional 3,270 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SKYW. Evercore ISI increased their price objective on SkyWest from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. Zacks Research lowered SkyWest from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Cowen reaffirmed a “buy” rating on shares of SkyWest in a report on Friday. Raymond James Financial raised SkyWest from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Cantor Fitzgerald set a $132.00 price target on SkyWest in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, SkyWest presently has a consensus rating of “Buy” and an average price target of $130.20.

SkyWest Stock Performance

SKYW opened at $100.55 on Tuesday. The stock has a market cap of $4.06 billion, a P/E ratio of 10.23, a P/E/G ratio of 0.95 and a beta of 1.86. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63. The stock’s 50 day simple moving average is $105.31 and its 200 day simple moving average is $104.51. SkyWest, Inc. has a 1-year low of $74.70 and a 1-year high of $135.57.

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. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the firm posted $2.16 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Insider Transactions at SkyWest

In other news, Director James L. Welch sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $116.09, for a total transaction of $1,160,900.00. Following the completion of the transaction, the director directly owned 27,717 shares of the company’s stock, valued at $3,217,666.53. This trade represents a 26.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Greg Wooley sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total transaction of $233,660.00. Following the transaction, the vice president directly owned 66,737 shares of the company’s stock, valued at approximately $7,796,883.71. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 38,000 shares of company stock valued at $4,412,120 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

About SkyWest

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.