Sei Investments Co. Boosts Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Sei Investments Co. boosted its position in SkyWest, Inc. (NASDAQ:SKYW) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,110 shares of the transportation company’s stock after purchasing an additional 577 shares during the period. Sei Investments Co.’s holdings in SkyWest were worth $4,523,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SKYW. Norges Bank purchased a new stake in shares of SkyWest during the fourth quarter worth $12,134,000. Franklin Resources Inc. lifted its position in shares of SkyWest by 14.2% during the fourth quarter. Franklin Resources Inc. now owns 27,502 shares of the transportation company’s stock worth $1,436,000 after acquiring an additional 3,415 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in shares of SkyWest by 306.3% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,409 shares of the transportation company’s stock worth $1,274,000 after acquiring an additional 18,401 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of SkyWest by 1.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 356,400 shares of the transportation company’s stock worth $18,604,000 after acquiring an additional 6,126 shares in the last quarter. Finally, Par Capital Management Inc. lifted its position in shares of SkyWest by 2.5% during the fourth quarter. Par Capital Management Inc. now owns 244,441 shares of the transportation company’s stock worth $12,760,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Analyst Ratings Changes

Separately, TD Cowen increased their target price on SkyWest from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.67.

SkyWest Trading Down 1.2 %

SkyWest stock opened at $83.98 on Wednesday. The stock has a market cap of $3.37 billion, a P/E ratio of 30.32 and a beta of 1.95. SkyWest, Inc. has a fifty-two week low of $36.91 and a fifty-two week high of $87.86. The firm’s fifty day moving average price is $76.94 and its 200-day moving average price is $75.96. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.74 and a current ratio of 0.84.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, July 25th. The transportation company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.09. The firm had revenue of $867.10 million for the quarter, compared to analysts’ expectations of $826.56 million. SkyWest had a net margin of 5.55% and a return on equity of 8.18%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Equities research analysts forecast that SkyWest, Inc. will post 6.88 earnings per share for the current fiscal year.

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.