RWC Asset Management LLP Buys 135,211 Shares of SkyWest, Inc. (SKYW)
RWC Asset Management LLP lifted its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 82.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 300,000 shares of the transportation company’s stock after acquiring an additional 135,211 shares during the quarter. RWC Asset Management LLP owned approximately 0.58% of SkyWest worth $13,170,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in SKYW. Bank of Montreal Can grew its stake in shares of SkyWest by 181.5% during the 2nd quarter. Bank of Montreal Can now owns 10,345 shares of the transportation company’s stock valued at $364,000 after acquiring an additional 6,670 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of SkyWest by 3.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 71,788 shares of the transportation company’s stock valued at $2,516,000 after acquiring an additional 2,164 shares during the period. Texas Permanent School Fund grew its stake in shares of SkyWest by 0.6% during the 2nd quarter. Texas Permanent School Fund now owns 37,774 shares of the transportation company’s stock valued at $1,326,000 after acquiring an additional 236 shares during the period. Sei Investments Co. grew its stake in shares of SkyWest by 33.3% during the 2nd quarter. Sei Investments Co. now owns 130,541 shares of the transportation company’s stock valued at $4,582,000 after acquiring an additional 32,595 shares during the period. Finally, Rhumbline Advisers lifted its holdings in SkyWest by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 104,277 shares of the transportation company’s stock worth $3,660,000 after purchasing an additional 368 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.
SKYW has been the topic of a number of research analyst reports. Deutsche Bank boosted their price target on SkyWest from $47.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Wednesday, November 22nd. BidaskClub cut SkyWest from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 29th. Finally, Cowen boosted their price target on SkyWest from $44.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $50.60.
In other news, COO Michael B. Thompson sold 1,476 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $51.45, for a total transaction of $75,940.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry C. Atkin sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $48.10, for a total value of $5,291,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 154,239 shares of company stock worth $7,512,577 over the last ninety days. Insiders own 3.50% of the company’s stock.
SkyWest, Inc. (NASDAQ:SKYW) opened at $52.95 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 1.61. SkyWest, Inc. has a twelve month low of $30.40 and a twelve month high of $54.17. The company has a market capitalization of $2,721.73, a P/E ratio of 16.67 and a beta of 1.77.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.03. SkyWest had a positive return on equity of 11.87% and a negative net margin of 4.15%. The company had revenue of $831.93 million for the quarter, compared to analysts’ expectations of $817.43 million. During the same period in the previous year, the firm earned $0.90 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. analysts anticipate that SkyWest, Inc. will post 3.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.60%. SkyWest’s dividend payout ratio (DPR) is -12.26%.
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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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