SkyWest, Inc. (SKYW) Stake Decreased by SG Capital Management LLC
SG Capital Management LLC cut its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 32.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 188,947 shares of the transportation company’s stock after selling 89,265 shares during the quarter. SkyWest comprises about 0.9% of SG Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. SG Capital Management LLC owned approximately 0.36% of SkyWest worth $8,295,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Amalgamated Bank grew its stake in SkyWest by 1.6% in the 2nd quarter. Amalgamated Bank now owns 6,926 shares of the transportation company’s stock valued at $243,000 after acquiring an additional 110 shares during the last quarter. SG Americas Securities LLC grew its stake in SkyWest by 1.5% in the 2nd quarter. SG Americas Securities LLC now owns 9,262 shares of the transportation company’s stock valued at $325,000 after acquiring an additional 133 shares during the last quarter. Stifel Financial Corp grew its stake in SkyWest by 1.2% in the 2nd quarter. Stifel Financial Corp now owns 18,898 shares of the transportation company’s stock valued at $662,000 after acquiring an additional 224 shares during the last quarter. Texas Permanent School Fund grew its stake in SkyWest by 0.6% in 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 last quarter. Finally, Suntrust Banks Inc. grew its stake in SkyWest by 3.5% in the 2nd quarter. Suntrust Banks Inc. now owns 8,419 shares of the transportation company’s stock valued at $295,000 after acquiring an additional 286 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.
SKYW has been the topic of a number of research reports. Zacks Investment Research raised shares of SkyWest from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Wednesday, November 22nd. Deutsche Bank AG upped their target price on shares of SkyWest from $47.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Imperial Capital upped their target price on shares of SkyWest from $38.00 to $47.00 and gave the company an “in-line” rating in a report on Tuesday, October 31st. BidaskClub lowered shares of SkyWest from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, ValuEngine lowered shares of SkyWest from a “strong-buy” rating to a “buy” rating in a report on Monday, September 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.33.
In other news, COO Michael B. Thompson sold 1,476 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $51.45, for a total transaction of $75,940.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Russell A. Childs sold 1,766 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $47.22, for a total transaction of $83,390.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,164 shares of company stock worth $6,890,473. Insiders own 3.50% of the company’s stock.
SkyWest, Inc. (NASDAQ:SKYW) opened at $50.00 on Monday. The firm has a market cap of $2,590.00, a PE ratio of 15.87 and a beta of 1.74. SkyWest, Inc. has a 1-year low of $30.40 and a 1-year high of $51.85. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 1.61.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.03. The business had revenue of $831.93 million for the quarter, compared to analyst estimates of $817.43 million. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. research analysts anticipate that SkyWest, Inc. will post 3.32 earnings per share for the current year.
The business 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 of this dividend is Thursday, December 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.64%. SkyWest’s payout ratio is currently -12.31%.
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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