Algert Global LLC Makes New $1.82 Million Investment in SkyWest, Inc. (NASDAQ:SKYW)

Algert Global LLC purchased a new position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,212 shares of the transportation company's stock, valued at approximately $1,824,000.

Other large investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in shares of SkyWest by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the transportation company's stock worth $1,953,000 after purchasing an additional 100 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of SkyWest by 1.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,495 shares of the transportation company's stock worth $951,000 after purchasing an additional 100 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of SkyWest by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,145 shares of the transportation company's stock worth $415,000 after buying an additional 131 shares in the last quarter. Highland Capital Management LLC lifted its holdings in shares of SkyWest by 6.1% in the fourth quarter. Highland Capital Management LLC now owns 2,783 shares of the transportation company's stock worth $279,000 after buying an additional 160 shares in the last quarter. Finally, Comerica Bank lifted its holdings in shares of SkyWest by 1.1% in the fourth quarter. Comerica Bank now owns 14,786 shares of the transportation company's stock worth $1,481,000 after buying an additional 161 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SKYW has been the topic of several research analyst reports. StockNews.com raised shares of SkyWest from a "hold" rating to a "buy" rating in a report on Monday, May 5th. The Goldman Sachs Group raised shares of SkyWest from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $119.00 to $117.00 in a report on Tuesday, April 8th. Finally, Raymond James lowered their target price on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd.

SkyWest Trading Up 1.8%

Shares of SKYW traded up $1.88 during midday trading on Tuesday, hitting $103.84. The stock had a trading volume of 381,108 shares, compared to its average volume of 396,386. SkyWest, Inc. has a 1 year low of $64.61 and a 1 year high of $135.57. The firm has a market cap of $4.20 billion, a PE ratio of 13.36 and a beta of 1.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. The stock's 50 day moving average is $88.47 and its 200 day moving average is $100.92.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.38. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. The business had revenue of $948.46 million for the quarter, compared to the consensus estimate of $946.13 million. During the same quarter in the prior year, the firm posted $1.45 earnings per share. The business's revenue for the quarter was up 18.0% on a year-over-year basis. As a group, analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

SkyWest announced that its board has authorized a share repurchase plan on Wednesday, May 7th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the transportation company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other news, VP Greg Wooley sold 14,545 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total value of $1,537,842.85. Following the sale, the vice president now directly owns 68,737 shares in the company, valued at approximately $7,267,563.01. This trade represents a 17.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

SkyWest 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.