Royal Bank of Canada Lowers Position in SkyWest, Inc. (SKYW)

Royal Bank of Canada trimmed its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 18.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,073 shares of the transportation company’s stock after selling 2,250 shares during the quarter. Royal Bank of Canada’s holdings in SkyWest were worth $354,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc increased its stake in SkyWest by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 93,386 shares of the transportation company’s stock worth $3,277,000 after purchasing an additional 7,821 shares in the last quarter. Systematic Financial Management LP increased its stake in SkyWest by 31.1% during the 2nd quarter. Systematic Financial Management LP now owns 234,089 shares of the transportation company’s stock worth $8,217,000 after purchasing an additional 55,514 shares in the last quarter. Victory Capital Management Inc. increased its stake in SkyWest by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 759,204 shares of the transportation company’s stock worth $26,648,000 after purchasing an additional 14,217 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in SkyWest by 45.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 142,553 shares of the transportation company’s stock worth $5,003,000 after purchasing an additional 44,246 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its stake in SkyWest by 25.0% during the 2nd quarter. Kennedy Capital Management Inc. now owns 421,482 shares of the transportation company’s stock worth $14,794,000 after purchasing an additional 84,205 shares in the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the company. Cowen and Company increased their target price on SkyWest from $40.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, August 10th. Zacks Investment Research cut SkyWest from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 29th. Imperial Capital raised their price target on shares of SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 31st. Finally, BidaskClub cut shares of SkyWest from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $47.50.

In related news, CEO Russell A. Childs sold 1,766 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $47.22, for a total value of $83,390.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wade J. Steel sold 4,500 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $47.00, for a total transaction of $211,500.00. The disclosure for this sale can be found here. Insiders sold 12,134 shares of company stock valued at $571,156 over the last three months. 3.50% of the stock is owned by company insiders.

SkyWest, Inc. (NASDAQ:SKYW) opened at $50.30 on Friday. The firm has a market cap of $2,570.00, a P/E ratio of 15.13 and a beta of 1.74. SkyWest, Inc. has a 52 week low of $30.40 and a 52 week high of $50.40. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.09 and a current ratio of 1.24.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.03. The company had revenue of $831.93 million during the quarter, compared to analysts’ expectations of $817.43 million. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. equities research analysts predict that SkyWest, Inc. will post 3.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.64%. SkyWest’s dividend payout ratio is currently -12.31%.

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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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Institutional Ownership by Quarter for SkyWest (NASDAQ:SKYW)

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