Ajo LP Cuts Holdings in SkyWest, Inc. (SKYW)
Ajo LP lessened its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 51.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,019 shares of the transportation company’s stock after selling 33,775 shares during the quarter. Ajo LP owned about 0.06% of SkyWest worth $1,124,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. UBS Asset Management Americas Inc. bought a new position in shares of SkyWest in the fourth quarter valued at approximately $245,000. Bank of Montreal Can boosted its position in shares of SkyWest by 10.0% in the first quarter. Bank of Montreal Can now owns 3,675 shares of the transportation company’s stock valued at $126,000 after acquiring an additional 334 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of SkyWest by 7.3% in the first quarter. Great West Life Assurance Co. Can now owns 69,624 shares of the transportation company’s stock valued at $2,381,000 after acquiring an additional 4,731 shares during the period. US Bancorp DE boosted its position in shares of SkyWest by 2.4% in the first quarter. US Bancorp DE now owns 23,219 shares of the transportation company’s stock valued at $796,000 after acquiring an additional 546 shares during the period. Finally, Suntrust Banks Inc. boosted its position in shares of SkyWest by 0.7% in the first quarter. Suntrust Banks Inc. now owns 8,133 shares of the transportation company’s stock valued at $278,000 after acquiring an additional 55 shares during the period. Hedge funds and other institutional investors own 89.39% of the company’s stock.
A number of equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Wednesday. Cowen and Company raised their price objective on shares of SkyWest from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, August 10th. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, BidaskClub lowered shares of SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $42.17.
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Shares of SkyWest, Inc. (NASDAQ:SKYW) opened at 42.10 on Thursday. The stock’s market capitalization is $2.18 billion. The company has a 50-day moving average of $36.23 and a 200-day moving average of $35.67. SkyWest, Inc. has a 52 week low of $25.04 and a 52 week high of $42.69.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.08. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The business had revenue of $809.76 million during the quarter, compared to the consensus estimate of $790.14 million. During the same period in the prior year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, analysts anticipate that SkyWest, Inc. will post $3.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.32 annualized dividend and a yield of 0.76%. SkyWest’s payout ratio is -11.31%.
SkyWest Company Profile
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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