SkyWest, Inc. $SKYW Position Lessened by Cambria Investment Management L.P.

Cambria Investment Management L.P. decreased its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,503 shares of the transportation company’s stock after selling 6,858 shares during the period. SkyWest accounts for approximately 0.7% of Cambria Investment Management L.P.’s portfolio, making the stock its 20th biggest position. Cambria Investment Management L.P.’s holdings in SkyWest were worth $12,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System increased its position in SkyWest by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company’s stock worth $1,150,000 after purchasing an additional 87 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of SkyWest by 4.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company’s stock worth $257,000 after purchasing an additional 100 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of SkyWest by 2.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,827 shares of the transportation company’s stock valued at $600,000 after buying an additional 113 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of SkyWest by 2.8% in the 3rd quarter. Alps Advisors Inc. now owns 4,235 shares of the transportation company’s stock valued at $426,000 after buying an additional 115 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in shares of SkyWest by 3.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,133 shares of the transportation company’s stock valued at $426,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

SkyWest Price Performance

Shares of NASDAQ:SKYW opened at $88.96 on Thursday. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 1.24 and a beta of 1.58. The business has a 50 day moving average price of $99.92 and a 200 day moving average price of $101.36. The company has a quick ratio of 0.55, a current ratio of 0.65 and a debt-to-equity ratio of 0.67. SkyWest, Inc. has a twelve month low of $74.70 and a twelve month high of $123.94.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.04). SkyWest had a return on equity of 16.35% and a net margin of 10.56%.The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $993.12 million. During the same period in the prior year, the firm earned $2.34 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Research analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research report on Thursday, January 22nd. Zacks Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. TD Cowen dropped their price target on shares of SkyWest from $132.00 to $122.00 and set a “buy” rating on the stock in a research note on Monday, January 26th. Citigroup initiated coverage on shares of SkyWest in a report on Thursday, December 4th. They set a “neutral” rating and a $112.00 price target on the stock. Finally, Cantor Fitzgerald set a $122.00 price objective on shares of SkyWest in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.83.

Insider Activity

In related news, insider Wade J. Steel sold 20,629 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $106.53, for a total transaction of $2,197,607.37. Following the transaction, the insider owned 77,438 shares of the company’s stock, valued at approximately $8,249,470.14. The trade was a 21.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

About SkyWest

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.