Algert Global LLC Has $2.77 Million Stock Holdings in SkyWest, Inc. $SKYW

Algert Global LLC lifted its position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 80.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,892 shares of the transportation company's stock after purchasing an additional 12,440 shares during the period. Algert Global LLC owned about 0.07% of SkyWest worth $2,771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in SkyWest in the second quarter valued at $682,530,000. Bank of New York Mellon Corp bought a new stake in shares of SkyWest in the 2nd quarter valued at about $28,177,000. Fuller & Thaler Asset Management Inc. raised its position in shares of SkyWest by 27.5% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,184,956 shares of the transportation company's stock worth $118,981,000 after acquiring an additional 255,408 shares during the last quarter. Millennium Management LLC raised its position in shares of SkyWest by 90.6% during the third quarter. Millennium Management LLC now owns 351,149 shares of the transportation company's stock worth $35,333,000 after acquiring an additional 166,926 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of SkyWest in the second quarter worth approximately $15,301,000. Institutional investors own 81.30% of the company's stock.

Insider Activity at SkyWest

In other news, CEO Russell A. Childs sold 50,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $113.21, for a total transaction of $5,717,105.00. Following the completion of the sale, the chief executive officer owned 346,190 shares in the company, valued at $39,192,169.90. This trade represents a 12.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Greg Wooley sold 17,726 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $108.55, for a total transaction of $1,924,157.30. Following the sale, the vice president owned 53,323 shares of the company's stock, valued at approximately $5,788,211.65. The trade was a 24.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 115,226 shares of company stock worth $12,855,192. Insiders own 1.50% of the company's stock.

SkyWest Stock Performance

Shares of SKYW opened at $98.87 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 1.43 and a beta of 1.46. The stock has a 50 day moving average of $102.37 and a 200 day moving average of $95.61. SkyWest, Inc. has a 12 month low of $77.89 and a 12 month high of $123.67.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The transportation company reported $2.54 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.16). The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.11 billion. SkyWest had a return on equity of 14.58% and a net margin of 9.78%.The firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.91 EPS. As a group, sell-side analysts forecast that SkyWest, Inc. will post 10.64 earnings per share for the current year.

SkyWest announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the transportation company to purchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

SKYW has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of SkyWest from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, July 16th. Citigroup boosted their price target on shares of SkyWest from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. TD Cowen upped their price objective on shares of SkyWest from $115.00 to $123.00 and gave the company a "buy" rating in a research note on Monday. Finally, The Goldman Sachs Group downgraded shares of SkyWest from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $126.00 to $115.00 in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.00.

About SkyWest

SkyWest, Inc NASDAQ: SKYW is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.

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