SkyWest, Inc. (SKYW) Shares Sold by Profund Advisors LLC
Profund Advisors LLC trimmed its stake in SkyWest, Inc. (NASDAQ:SKYW) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,839 shares of the transportation company’s stock after selling 1,037 shares during the quarter. Profund Advisors LLC’s holdings in SkyWest were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in SkyWest by 2.8% in the fourth quarter. BlackRock Inc. now owns 6,459,519 shares of the transportation company’s stock valued at $343,000,000 after acquiring an additional 178,016 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in SkyWest by 108.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,153,757 shares of the transportation company’s stock valued at $114,367,000 after acquiring an additional 1,119,617 shares during the last quarter. Renaissance Technologies LLC boosted its stake in SkyWest by 19.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,863,468 shares of the transportation company’s stock valued at $98,950,000 after acquiring an additional 302,000 shares during the last quarter. Victory Capital Management Inc. boosted its stake in SkyWest by 4.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,488,411 shares of the transportation company’s stock valued at $79,034,000 after acquiring an additional 68,348 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in SkyWest by 2.8% in the third quarter. Ameriprise Financial Inc. now owns 1,243,724 shares of the transportation company’s stock valued at $54,603,000 after acquiring an additional 33,310 shares during the last quarter. Hedge funds and other institutional investors own 90.33% of the company’s stock.
In other SkyWest news, COO Terry Vais sold 5,800 shares of the stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $56.00, for a total value of $324,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert J. Simmons sold 39,339 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $55.94, for a total transaction of $2,200,623.66. The disclosure for this sale can be found here. Insiders sold a total of 49,639 shares of company stock worth $2,781,474 over the last quarter. Corporate insiders own 3.50% of the company’s stock.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.10. SkyWest had a net margin of 13.39% and a return on equity of 12.08%. The company had revenue of $797.20 million for the quarter, compared to analysts’ expectations of $778.13 million. During the same period in the prior year, the company posted $0.54 EPS. SkyWest’s revenue was up 5.2% compared to the same quarter last year. research analysts predict that SkyWest, Inc. will post 4.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Friday, March 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from SkyWest’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.68%. SkyWest’s dividend payout ratio is currently 3.97%.
A number of analysts recently commented on the stock. BidaskClub upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Zacks Investment Research cut shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Imperial Capital upped their price target on shares of SkyWest from $47.00 to $55.00 and gave the company an “in-line” rating in a research note on Tuesday, February 6th. Cowen upped their price target on shares of SkyWest from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Raymond James Financial upped their price target on shares of SkyWest from $62.00 to $65.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and four have given a strong buy rating to the company. SkyWest presently has an average rating of “Buy” and an average price target of $56.00.
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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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