Magnetar Financial LLC Invests $2.88 Million in SkyWest, Inc. $SKYW

Magnetar Financial LLC purchased a new stake in SkyWest, Inc. (NASDAQ:SKYW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 28,623 shares of the transportation company’s stock, valued at approximately $2,880,000. Magnetar Financial LLC owned 0.07% of SkyWest as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new stake in SkyWest during the third quarter worth approximately $38,000. Elevation Point Wealth Partners LLC purchased a new position in shares of SkyWest in the 2nd quarter valued at $40,000. EverSource Wealth Advisors LLC lifted its holdings in shares of SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 339 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of SkyWest by 666.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company’s stock valued at $116,000 after acquiring an additional 999 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in SkyWest by 105.8% during the 3rd quarter. Blue Trust Inc. now owns 1,167 shares of the transportation company’s stock worth $117,000 after purchasing an additional 600 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SkyWest

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

SkyWest Stock Performance

SkyWest stock opened at $90.82 on Thursday. SkyWest, Inc. has a 12-month low of $74.70 and a 12-month high of $123.94. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.55. The firm’s fifty day moving average price is $100.98 and its 200 day moving average price is $102.48.

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

Wall Street Analyst Weigh In

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

SkyWest Profile

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.