Nationwide Fund Advisors cut its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,519 shares of the transportation company’s stock after selling 11,353 shares during the period. Nationwide Fund Advisors owned 0.37% of SkyWest worth $8,408,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its position in SkyWest by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,893,643 shares of the transportation company’s stock valued at $206,868,000 after buying an additional 105,193 shares during the last quarter. Renaissance Technologies LLC grew its position in SkyWest by 10.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the transportation company’s stock valued at $45,479,000 after buying an additional 117,700 shares during the last quarter. Ameriprise Financial Inc. grew its position in SkyWest by 7.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,210,414 shares of the transportation company’s stock valued at $42,491,000 after buying an additional 79,503 shares during the last quarter. LSV Asset Management grew its position in SkyWest by 16.2% in the 2nd quarter. LSV Asset Management now owns 966,937 shares of the transportation company’s stock valued at $33,939,000 after buying an additional 134,600 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in SkyWest by 1.9% in the 2nd quarter. Victory Capital Management Inc. now owns 759,204 shares of the transportation company’s stock valued at $26,648,000 after buying an additional 14,217 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.
A number of research firms recently weighed in on SKYW. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Wednesday, November 22nd. Imperial Capital lifted their price objective on shares of SkyWest from $38.00 to $47.00 and gave the company an “in-line” rating in a research report on Tuesday, October 31st. Deutsche Bank lifted their price objective on shares of SkyWest from $47.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Cowen lifted their price objective on shares of SkyWest from $44.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, October 2nd. Finally, ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, one has 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 an average rating of “Buy” and an average price target of $50.60.
In other SkyWest news, insider Wade J. Steel sold 4,500 shares of the business’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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Russell A. Childs sold 1,766 shares of the business’s stock in a transaction 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. Insiders have sold a total of 154,239 shares of company stock worth $7,512,577 over the last 90 days. Insiders own 3.50% of the company’s stock.
Shares of SkyWest, Inc. (SKYW) opened at $52.50 on Friday. The company has a market cap of $2,664.71, a price-to-earnings ratio of 16.32 and a beta of 1.77. SkyWest, Inc. has a 1 year low of $30.40 and a 1 year high of $53.45. 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 earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.98 by $0.03. The company 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 business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. sell-side analysts predict that SkyWest, Inc. will post 3.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 29th will be given 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 0.61%. SkyWest’s payout ratio is currently -12.26%.
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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