Nicholas Investment Partners LP Sells 14,405 Shares of SkyWest, Inc. $SKYW

Nicholas Investment Partners LP decreased its stake in SkyWest, Inc. (NASDAQ:SKYW) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 115,087 shares of the transportation company’s stock after selling 14,405 shares during the period. Nicholas Investment Partners LP owned 0.29% of SkyWest worth $11,556,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its stake in shares of SkyWest by 9.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 148,225 shares of the transportation company’s stock valued at $14,883,000 after buying an additional 12,635 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of SkyWest by 3.0% during the 3rd quarter. American Century Companies Inc. now owns 1,612,098 shares of the transportation company’s stock valued at $162,209,000 after buying an additional 46,744 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of SkyWest by 10.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 172,424 shares of the transportation company’s stock valued at $17,349,000 after buying an additional 15,793 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of SkyWest during the 3rd quarter valued at approximately $731,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of SkyWest by 39.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 298,255 shares of the transportation company’s stock valued at $30,011,000 after buying an additional 83,705 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.

SkyWest Price Performance

Shares of NASDAQ:SKYW opened at $91.75 on Friday. The company has a 50 day moving average of $87.77 and a 200 day moving average of $95.60. The stock has a market cap of $3.64 billion, a P/E ratio of 8.80, a P/E/G ratio of 1.32 and a beta of 1.47. SkyWest, Inc. has a 12 month low of $77.89 and a 12 month high of $123.94. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 0.66.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings data on Thursday, April 23rd. The transportation company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.15 by $0.35. SkyWest had a net margin of 10.42% and a return on equity of 15.55%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $993.06 million. During the same quarter in the previous year, the company earned $2.42 earnings per share. SkyWest’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, sell-side analysts forecast that SkyWest, Inc. will post 10.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. TD Cowen dropped their price target on shares of SkyWest from $106.00 to $98.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Weiss Ratings cut shares of SkyWest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, Citigroup reduced their price objective on shares of SkyWest from $101.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.00.

SkyWest Company 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.