Algert Global LLC Has $9.57 Million Position in SkyWest, Inc. $SKYW

Key Points

• Algert Global LLC significantly increased its holdings in SkyWest, Inc. by 501.4%, now owning 0.27% of the company worth $9.57 million after additional purchases.
• Insiders, including CEO Russell A. Childs, have sold significant amounts of stock recently, with over 136,000 shares sold in the past three months, indicating potential changes in confidence among executives.
• SkyWest's stock has a consensus rating of "Buy" from analysts, with recent price targets increasing to as high as $140.00, suggesting optimism for the company's growth potential.

Algert Global LLC grew its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 501.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 109,528 shares of the transportation company's stock after purchasing an additional 91,316 shares during the period. Algert Global LLC owned approximately 0.27% of SkyWest worth $9,569,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SKYW. Allspring Global Investments Holdings LLC grew its holdings in SkyWest by 1,075.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 60,181 shares of the transportation company's stock worth $5,302,000 after acquiring an additional 55,062 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of SkyWest by 5.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,322 shares of the transportation company's stock valued at $290,000 after purchasing an additional 186 shares during the period. GAMMA Investing LLC boosted its position in shares of SkyWest by 11.5% in the 1st quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock valued at $152,000 after purchasing an additional 180 shares during the period. SG Americas Securities LLC acquired a new position in shares of SkyWest in the 1st quarter valued at $1,007,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of SkyWest in the 1st quarter valued at $209,000. 81.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SkyWest

In other news, CEO Russell A. Childs sold 26,000 shares of SkyWest stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $116.06, for a total transaction of $3,017,560.00. Following the completion of the sale, the chief executive officer directly owned 404,883 shares in the company, valued at $46,990,720.98. The trade was a 6.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wade J. Steel sold 17,000 shares of SkyWest stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $118.26, for a total value of $2,010,420.00. Following the sale, the insider owned 102,416 shares of the company's stock, valued at approximately $12,111,716.16. This represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,186 shares of company stock worth $15,434,918 over the last quarter. Insiders own 2.00% of the company's stock.

SkyWest Stock Up 4.3%

NASDAQ SKYW traded up $4.9750 during trading on Friday, reaching $119.4450. 120,104 shares of the company's stock were exchanged, compared to its average volume of 397,455. SkyWest, Inc. has a fifty-two week low of $72.70 and a fifty-two week high of $135.57. The firm has a market capitalization of $4.82 billion, a PE ratio of 12.15, a P/E/G ratio of 1.12 and a beta of 1.98. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The company's fifty day simple moving average is $109.00 and its 200-day simple moving average is $100.08.

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

SkyWest announced that its Board of Directors has initiated a stock buyback plan on Wednesday, May 7th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the transportation company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen upgraded SkyWest from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Evercore ISI raised their price objective on SkyWest from $120.00 to $130.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Raymond James Financial raised their price objective on SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, SkyWest currently has a consensus rating of "Buy" and an average price target of $126.75.

About SkyWest

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.