111 Capital Makes New Investment in SkyWest, Inc. $SKYW

Key Points

• 111 Capital purchased a new stake in SkyWest, Inc., acquiring 3,613 shares valued at approximately $372,000 during Q2.
• SkyWest's recent quarterly report showed earnings per share of $2.91, surpassing analysts' estimates and reflecting a 19.4% year-over-year revenue growth.
• Several institutional investors, including QRG Capital Management and the State of Alaska Department of Revenue, significantly increased their stakes in SkyWest, indicating a strong institutional interest with 81.30% of the company's stock owned by institutions.

111 Capital bought a new stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,613 shares of the transportation company's stock, valued at approximately $372,000.

Other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in shares of SkyWest by 74.3% during the 2nd quarter. QRG Capital Management Inc. now owns 19,628 shares of the transportation company's stock worth $2,021,000 after acquiring an additional 8,366 shares during the period. State of Alaska Department of Revenue boosted its stake in SkyWest by 7.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 24,107 shares of the transportation company's stock valued at $2,482,000 after purchasing an additional 1,760 shares during the period. TD Private Client Wealth LLC acquired a new position in SkyWest in the 2nd quarter valued at $71,000. Fifth Third Bancorp increased its position in SkyWest by 38.4% during the 2nd quarter. Fifth Third Bancorp now owns 551 shares of the transportation company's stock worth $57,000 after buying an additional 153 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of SkyWest during the second quarter worth $751,000. Institutional investors and hedge funds own 81.30% of the company's stock.

SkyWest Price Performance

NASDAQ SKYW opened at $100.02 on Monday. The stock has a 50-day moving average of $111.66 and a 200 day moving average of $102.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.73. SkyWest, Inc. has a one year low of $74.70 and a one year high of $135.57. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 0.99 and a beta of 1.86.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.34 by $0.57. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $979.95 million. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The firm's revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. On average, sell-side analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Activity

In related news, insider Wade J. Steel sold 17,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $118.26, for a total value of $2,010,420.00. Following the sale, the insider directly owned 102,416 shares in the company, valued at approximately $12,111,716.16. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James L. Welch sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $116.09, for a total value of $1,160,900.00. Following the transaction, the director owned 27,717 shares of the company's stock, valued at $3,217,666.53. This represents a 26.51% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,186 shares of company stock valued at $10,440,398. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Raymond James Financial raised shares of SkyWest from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday. Evercore ISI upped their target price on SkyWest from $120.00 to $130.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of SkyWest in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $126.75.

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.

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