Assetmark Inc. Buys 55,162 Shares of SkyWest, Inc. $SKYW

Key Points

• Assetmark Inc. increased its SkyWest stake by 261.8%, adding 55,162 shares in Q4 to hold 76,229 shares valued at $7.65M (about 0.19% of the company).
• Insider Wade J. Steel sold 20,629 shares on Feb. 24 at an average price of $106.53 for roughly $2.20M, cutting his ownership by 21.04%; company insiders now own 1.50% of SkyWest.
• Analysts' consensus is a "Moderate Buy" with an average price target of $119.80 versus the stock at $99.30, and SkyWest trades at a P/E of 9.59 with a $3.99B market cap.

Assetmark Inc. lifted its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 261.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 76,229 shares of the transportation company's stock after acquiring an additional 55,162 shares during the period. Assetmark Inc. owned approximately 0.19% of SkyWest worth $7,654,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC acquired a new stake in shares of SkyWest in the 3rd quarter valued at $38,000. Johnson Financial Group Inc. acquired a new stake in shares of SkyWest in the 3rd quarter valued at $62,000. EverSource Wealth Advisors LLC boosted its stake in shares of SkyWest by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company's stock valued at $64,000 after purchasing an additional 339 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of SkyWest in the 4th quarter valued at $83,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of SkyWest by 666.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the transportation company's stock valued at $116,000 after purchasing an additional 999 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Wade J. Steel sold 20,629 shares of the firm's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total value of $2,197,607.37. Following the sale, the insider directly owned 77,438 shares of the company's stock, valued at $8,249,470.14. This trade represents a 21.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Cantor Fitzgerald set a $122.00 price target on shares of SkyWest in a research report on Monday, January 26th. Citigroup reduced their price target on shares of SkyWest from $112.00 to $101.00 and set a "neutral" rating on the stock in a research report on Friday, March 20th. Weiss Ratings reiterated a "buy (b-)" rating on shares of SkyWest in a research report on Thursday, January 22nd. Finally, TD Cowen reduced their price target on shares of SkyWest from $122.00 to $106.00 and set a "buy" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $119.80.

SkyWest Trading Up 4.8%

Shares of SkyWest stock opened at $99.30 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.65 and a quick ratio of 0.55. SkyWest, Inc. has a 1 year low of $82.14 and a 1 year high of $123.94. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 9.59, a P/E/G ratio of 1.29 and a beta of 1.63. The business has a fifty day simple moving average of $96.82 and a two-hundred day simple moving average of $99.04.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The transportation company reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.04). SkyWest had a return on equity of 16.35% and a net margin of 10.56%.The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $993.12 million. During the same quarter in the previous year, the business posted $2.34 EPS. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current year.

SkyWest Company Profile

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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