ETRADE Capital Management LLC trimmed its position in SkyWest, Inc. (NASDAQ:SKYW) by 32.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,559 shares of the transportation company’s stock after selling 9,242 shares during the period. ETRADE Capital Management LLC’s holdings in SkyWest were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKYW. Louisiana State Employees Retirement System increased its position in shares of SkyWest by 6.2% in the 4th quarter. Louisiana State Employees Retirement System now owns 22,300 shares of the transportation company’s stock valued at $1,184,000 after acquiring an additional 1,300 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of SkyWest by 0.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 481,899 shares of the transportation company’s stock valued at $25,589,000 after acquiring an additional 1,749 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of SkyWest in the 4th quarter valued at $298,000. Strs Ohio increased its position in shares of SkyWest by 450.0% in the 4th quarter. Strs Ohio now owns 3,300 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 2,700 shares during the period. Finally, James Investment Research Inc. boosted its holdings in SkyWest by 7.1% in the fourth quarter. James Investment Research Inc. now owns 114,009 shares of the transportation company’s stock valued at $6,054,000 after purchasing an additional 7,603 shares during the last quarter. 87.71% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:SKYW opened at $57.85 on Friday. SkyWest, Inc. has a one year low of $56.10 and a one year high of $56.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.14. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 15.16 and a beta of 1.70.
SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, April 26th. The transportation company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.86 by $0.17. SkyWest had a net margin of 13.92% and a return on equity of 12.52%. The company had revenue of $783.40 million for the quarter, compared to analyst estimates of $767.41 million. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. sell-side analysts anticipate that SkyWest, Inc. will post 4.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Friday, June 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, June 28th. SkyWest’s payout ratio is currently 11.66%.
In other news, insider Eric Woodward sold 4,500 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $56.90, for a total transaction of $256,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert J. Simmons sold 39,339 shares of the stock in a transaction dated 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. Over the last three months, insiders have sold 49,639 shares of company stock worth $2,781,474. Corporate insiders own 3.50% of the company’s stock.
Several equities research analysts have commented on the stock. 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 report on Tuesday, February 6th. Zacks Investment Research lowered shares of SkyWest from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. BidaskClub lowered shares of SkyWest from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 29th. Finally, Cowen upped their price target on shares of SkyWest from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. SkyWest presently has a consensus rating of “Buy” and a consensus target price of $61.20.
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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