Intech Investment Management LLC Raises Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

Intech Investment Management LLC boosted its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 56.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,832 shares of the transportation company’s stock after acquiring an additional 6,781 shares during the period. Intech Investment Management LLC’s holdings in SkyWest were worth $1,601,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Boston Partners bought a new stake in SkyWest during the first quarter valued at approximately $1,275,000. Nicholas Investment Partners LP lifted its position in SkyWest by 82.9% during the second quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock valued at $15,451,000 after purchasing an additional 85,356 shares during the last quarter. Acadian Asset Management LLC bought a new stake in SkyWest during the second quarter valued at approximately $520,000. Cornercap Investment Counsel Inc. bought a new stake in SkyWest during the second quarter valued at approximately $1,044,000. Finally, Victory Capital Management Inc. lifted its position in SkyWest by 90.2% during the second quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after purchasing an additional 261,349 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors.

SkyWest Trading Up 2.0 %

Shares of SKYW opened at $114.19 on Tuesday. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 19.32 and a beta of 1.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. SkyWest, Inc. has a fifty-two week low of $45.42 and a fifty-two week high of $116.47. The firm has a 50 day moving average price of $95.13 and a 200-day moving average price of $83.83.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping the consensus estimate of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The company had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. During the same period in the previous year, the firm earned $0.55 earnings per share. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. As a group, equities research analysts forecast that SkyWest, Inc. will post 7.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SKYW shares. Raymond James lifted their target price on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. The Goldman Sachs Group restated a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th. Finally, TD Cowen boosted their price objective on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.75.

Insider Buying and Selling

In other SkyWest news, CFO Robert J. Simmons sold 16,485 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total transaction of $1,731,254.70. Following the transaction, the chief financial officer now directly owns 113,539 shares of the company’s stock, valued at approximately $11,923,865.78. The trade was a 12.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the transaction, the insider now directly owns 97,654 shares in the company, valued at approximately $10,202,889.92. The trade was a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,467 shares of company stock valued at $10,082,596 over the last three months. 2.00% of the stock is owned by company insiders.

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.