Capital Fund Management S.A. Has $4.05 Million Stake in SkyWest, Inc. $SKYW

Key Points

• Capital Fund Management S.A. increased its stake in SkyWest, Inc. by 232.4%, acquiring an additional 32,401 shares in the first quarter, bringing its total holdings to approximately 46,342 shares valued at $4,049,000.
• SkyWest reported quarterly earnings of $2.91 EPS, exceeding analysts' expectations of $2.34, with a revenue of $1.04 billion, up 19.4% from the previous year.
• Institutional investors now own 81.3% of SkyWest's stock, highlighting significant interest from the investment community alongside recent share repurchase plans initiated by the company.

Capital Fund Management S.A. raised its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 232.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,342 shares of the transportation company's stock after purchasing an additional 32,401 shares during the quarter. Capital Fund Management S.A. owned about 0.11% of SkyWest worth $4,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in shares of SkyWest in the first quarter valued at approximately $27,000. NBC Securities Inc. acquired a new stake in shares of SkyWest in the first quarter valued at approximately $32,000. Quarry LP increased its stake in shares of SkyWest by 94.1% in the fourth quarter. Quarry LP now owns 1,023 shares of the transportation company's stock valued at $102,000 after purchasing an additional 496 shares during the period. CoreCap Advisors LLC increased its stake in shares of SkyWest by 43.6% in the fourth quarter. CoreCap Advisors LLC now owns 1,083 shares of the transportation company's stock valued at $108,000 after purchasing an additional 329 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of SkyWest by 83.0% in the first quarter. Versant Capital Management Inc now owns 1,274 shares of the transportation company's stock valued at $111,000 after purchasing an additional 578 shares during the period. Institutional investors and hedge funds own 81.30% of the company's stock.

Insider Activity

In related news, VP Greg Wooley sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $116.83, for a total transaction of $233,660.00. Following the completion of the sale, the vice president directly owned 66,737 shares in the company, valued at approximately $7,796,883.71. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Wade J. Steel sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $118.26, for a total transaction of $2,010,420.00. Following the sale, the insider owned 102,416 shares of the company's stock, valued at $12,111,716.16. The trade was a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,186 shares of company stock valued at $13,719,448 in the last ninety days. 1.20% of the stock is owned by company insiders.

SkyWest Price Performance

NASDAQ:SKYW traded up $2.34 during trading hours on Tuesday, reaching $123.72. 463,650 shares of the company's stock were exchanged, compared to its average volume of 315,537. The company has a market capitalization of $5.00 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. SkyWest, Inc. has a 12 month low of $72.70 and a 12 month high of $135.57. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.78. The business's 50-day simple moving average is $110.48 and its two-hundred day simple moving average is $100.04.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its earnings results on Thursday, July 24th. The transportation company reported $2.91 earnings per share 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 analysts' expectations of $979.95 million. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the firm posted $1.82 earnings per share. Sell-side analysts expect that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

SkyWest declared that its board has approved a share repurchase program on Wednesday, May 7th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the transportation company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SKYW. Raymond James Financial raised their price target on shares of SkyWest from $128.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Evercore ISI increased their price objective on shares of SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average 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.