SkyWest, Inc. $SKYW Holdings Cut by Voya Investment Management LLC

Voya Investment Management LLC lowered its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 16.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,891 shares of the transportation company’s stock after selling 5,077 shares during the period. Voya Investment Management LLC’s holdings in SkyWest were worth $2,505,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. American Century Companies Inc. boosted its position in SkyWest by 3.9% during the second quarter. American Century Companies Inc. now owns 1,565,354 shares of the transportation company’s stock valued at $161,185,000 after purchasing an additional 59,435 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of SkyWest by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,009,759 shares of the transportation company’s stock valued at $103,992,000 after buying an additional 19,521 shares during the last quarter. SW Investment Management LLC lifted its holdings in shares of SkyWest by 5.9% during the 2nd quarter. SW Investment Management LLC now owns 900,000 shares of the transportation company’s stock valued at $92,673,000 after buying an additional 50,000 shares during the last quarter. Invesco Ltd. grew its stake in shares of SkyWest by 1.5% in the 2nd quarter. Invesco Ltd. now owns 573,074 shares of the transportation company’s stock valued at $59,009,000 after buying an additional 8,342 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in SkyWest by 5.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 540,820 shares of the transportation company’s stock worth $55,688,000 after buying an additional 29,616 shares during the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

SkyWest Price Performance

NASDAQ SKYW opened at $102.75 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.61 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $100.24 and a 200 day simple moving average of $105.39. The company has a market cap of $4.12 billion, a P/E ratio of 9.80, a P/E/G ratio of 0.78 and a beta of 1.63. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $135.57.

SkyWest (NASDAQ:SKYW) last announced its earnings results on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.56 by $0.25. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. SkyWest had a net margin of 10.92% and a return on equity of 17.14%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 EPS. On average, sell-side analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on SKYW. Cowen reiterated a “buy” rating on shares of SkyWest in a research note on Friday, October 31st. Wall Street Zen downgraded shares of SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research cut shares of SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Cantor Fitzgerald set a $132.00 target price on SkyWest in a report on Friday, October 31st. Finally, Citigroup initiated coverage on SkyWest in a research report on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.17.

Insider Activity at SkyWest

In other news, Director Meredith Siegfried Madden sold 4,725 shares of SkyWest stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $106.54, for a total value of $503,401.50. Following the transaction, the director directly owned 25,362 shares in the company, valued at approximately $2,702,067.48. The trade was a 15.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

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.