Nationwide Fund Advisors Lowers Position in SkyWest, Inc. (SKYW)
Nationwide Fund Advisors lessened its stake in SkyWest, Inc. (NASDAQ:SKYW) by 30.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 202,872 shares of the transportation company’s stock after selling 90,256 shares during the quarter. Nationwide Fund Advisors owned approximately 0.39% of SkyWest worth $7,121,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of SKYW. BlackRock Inc. grew its stake in SkyWest by 49,259.4% in the 1st quarter. BlackRock Inc. now owns 6,176,837 shares of the transportation company’s stock valued at $211,556,000 after buying an additional 6,164,323 shares in the last quarter. FMR LLC grew its stake in SkyWest by 170.4% in the 1st quarter. FMR LLC now owns 1,018,900 shares of the transportation company’s stock valued at $34,897,000 after buying an additional 642,100 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in SkyWest by 3,410.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 342,155 shares of the transportation company’s stock valued at $9,748,000 after buying an additional 332,407 shares in the last quarter. Kennedy Capital Management Inc. grew its stake in SkyWest by 574.6% in the 1st quarter. Kennedy Capital Management Inc. now owns 337,277 shares of the transportation company’s stock valued at $11,552,000 after buying an additional 287,277 shares in the last quarter. Finally, SG Capital Management LLC purchased a new position in SkyWest in the 2nd quarter valued at approximately $9,765,000. 89.39% of the stock is currently owned by institutional investors.
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Shares of SkyWest, Inc. (NASDAQ:SKYW) opened at 43.90 on Friday. SkyWest, Inc. has a 12-month low of $25.97 and a 12-month high of $44.75. The company’s market capitalization is $2.28 billion. The stock’s 50 day moving average is $36.23 and its 200-day moving average is $35.67.
SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.08. The company had revenue of $809.76 million during the quarter, compared to analysts’ expectations of $790.14 million. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. SkyWest’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $0.77 earnings per share. Analysts anticipate that SkyWest, Inc. will post $3.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 29th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.32 annualized dividend and a yield of 0.73%. SkyWest’s payout ratio is -11.31%.
A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of SkyWest from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research lowered shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Saturday. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 18th. Finally, Cowen and Company lifted their price objective on shares of SkyWest from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and three have issued a strong buy rating to the stock. SkyWest presently has an average rating of “Buy” and a consensus price target of $42.17.
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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