Rhumbline Advisers raised its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 16.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,657 shares of the transportation company’s stock after purchasing an additional 16,928 shares during the quarter. Rhumbline Advisers owned approximately 0.24% of SkyWest worth $6,513,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in SkyWest by 1.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,390 shares of the transportation company’s stock worth $1,383,000 after purchasing an additional 712 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in SkyWest during the 3rd quarter valued at about $714,000. IndexIQ Advisors LLC lifted its stake in SkyWest by 83.0% during the 3rd quarter. IndexIQ Advisors LLC now owns 25,305 shares of the transportation company’s stock valued at $1,111,000 after acquiring an additional 11,480 shares during the period. Pitcairn Co. bought a new position in SkyWest during the 3rd quarter valued at about $205,000. Finally, BNP Paribas Arbitrage SA lifted its stake in SkyWest by 42.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 30,857 shares of the transportation company’s stock valued at $1,355,000 after acquiring an additional 9,208 shares during the period. 90.33% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Eric Woodward sold 4,500 shares of SkyWest stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $56.90, for a total transaction of $256,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert J. Simmons sold 39,339 shares of SkyWest stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $55.94, for a total value of $2,200,623.66. The disclosure for this sale can be found here. Insiders have sold 49,639 shares of company stock worth $2,781,474 in the last 90 days. Insiders own 3.50% of the company’s stock.
SKYW has been the topic of several research analyst reports. Zacks Investment Research cut shares of SkyWest from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. BidaskClub lowered shares of SkyWest from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. ValuEngine raised shares of SkyWest from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Cowen reaffirmed a “buy” rating and set a $60.00 price objective on shares of SkyWest in a report on Tuesday, January 9th. Finally, Raymond James Financial raised their target price on shares of SkyWest from $62.00 to $65.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $56.00.
Shares of SkyWest, Inc. (NASDAQ SKYW) traded down $0.90 during trading on Wednesday, hitting $58.50. The stock had a trading volume of 172,288 shares, compared to its average volume of 279,220. The stock has a market capitalization of $3,026.77, a price-to-earnings ratio of 7.25 and a beta of 1.74. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.07 and a current ratio of 1.21. SkyWest, Inc. has a 1 year low of $30.40 and a 1 year high of $59.95.
SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, February 1st. The transportation company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.10. SkyWest had a return on equity of 12.08% and a net margin of 13.39%. The company had revenue of $797.20 million for the quarter, compared to analyst estimates of $778.13 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. research analysts forecast that SkyWest, Inc. will post 4.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Friday, March 30th will be paid a dividend of $0.10 per share. This is a positive change from SkyWest’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.68%. SkyWest’s payout ratio is presently 3.97%.
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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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