361 Capital LLC Invests $2.42 Million in SkyWest, Inc. (SKYW)
361 Capital LLC acquired a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 55,083 shares of the transportation company’s stock, valued at approximately $2,418,000. 361 Capital LLC owned approximately 0.11% of SkyWest at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of SkyWest by 1.8% in the second quarter. Vanguard Group Inc. now owns 5,893,643 shares of the transportation company’s stock valued at $206,868,000 after purchasing an additional 105,193 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of SkyWest by 87.0% in the third quarter. Victory Capital Management Inc. now owns 1,420,063 shares of the transportation company’s stock valued at $62,340,000 after purchasing an additional 660,859 shares in the last quarter. State Street Corp increased its holdings in shares of SkyWest by 7.2% in the first quarter. State Street Corp now owns 1,375,036 shares of the transportation company’s stock valued at $47,093,000 after purchasing an additional 92,598 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of SkyWest by 10.0% in the second quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the transportation company’s stock valued at $45,479,000 after purchasing an additional 117,700 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of SkyWest by 7.0% in the second quarter. Ameriprise Financial Inc. now owns 1,210,414 shares of the transportation company’s stock valued at $42,491,000 after purchasing an additional 79,503 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.
Shares of SkyWest, Inc. (NASDAQ:SKYW) traded up $1.50 during mid-day trading on Friday, reaching $49.60. 343,800 shares of the company’s stock were exchanged, compared to its average volume of 341,922. SkyWest, Inc. has a 1 year low of $30.40 and a 1 year high of $49.85. The company has a market capitalization of $2,493.63, a PE ratio of 15.27 and a beta of 1.74. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 1.61.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.03. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The firm had revenue of $831.93 million for the quarter, compared to analysts’ expectations of $817.43 million. During the same period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. analysts forecast that SkyWest, Inc. will post 3.32 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 29th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.65%. SkyWest’s payout ratio is presently -12.26%.
SKYW has been the subject of a number of research reports. BidaskClub lowered shares of SkyWest from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Cowen and Company reissued an “outperform” rating and issued a $44.00 price target (up previously from $40.00) on shares of SkyWest in a report on Monday, August 7th. ValuEngine raised shares of SkyWest from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 29th. Finally, Zacks Investment Research lowered shares of SkyWest from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $47.50.
In other SkyWest news, COO Michael B. Thompson sold 5,868 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $47.08, for a total value of $276,265.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Russell A. Childs sold 1,766 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $47.22, for a total transaction of $83,390.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,134 shares of company stock worth $571,156. Insiders own 3.50% of the company’s stock.
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.
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