Renaissance Technologies LLC Has $137.92 Million Stake in SkyWest, Inc. (SKYW)
Renaissance Technologies LLC raised its stake in SkyWest, Inc. (NASDAQ:SKYW) by 8.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,341,568 shares of the transportation company’s stock after acquiring an additional 181,500 shares during the quarter. Renaissance Technologies LLC owned approximately 4.51% of SkyWest worth $137,918,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Quadrant L P CA acquired a new position in SkyWest in the third quarter valued at $150,000. Tower Research Capital LLC TRC increased its stake in SkyWest by 924.9% in the third quarter. Tower Research Capital LLC TRC now owns 2,716 shares of the transportation company’s stock valued at $160,000 after purchasing an additional 2,451 shares during the last quarter. Everence Capital Management Inc. acquired a new position in SkyWest in the third quarter valued at $209,000. Ifrah Financial Services Inc. acquired a new position in SkyWest in the third quarter valued at $213,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in SkyWest in the third quarter valued at $226,000. 90.63% of the stock is owned by institutional investors.
Several equities analysts recently commented on SKYW shares. Deutsche Bank upped their target price on SkyWest from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, October 31st. ValuEngine lowered SkyWest from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. BidaskClub upgraded SkyWest from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Zacks Investment Research lowered SkyWest from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 1st. Finally, Imperial Capital restated an “in-line” rating and set a $58.00 price target on shares of SkyWest in a research note on Friday, November 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. SkyWest has a consensus rating of “Hold” and an average price target of $65.57.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Tuesday, October 30th. The transportation company reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.17. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $825.57 million. SkyWest had a return on equity of 13.99% and a net margin of 15.65%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. Research analysts predict that SkyWest, Inc. will post 5.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Monday, December 31st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.40 annualized dividend and a yield of 0.80%. SkyWest’s dividend payout ratio is presently 11.66%.
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SkyWest Company Profile
SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
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