Caxton Associates LLP Makes New $2.11 Million Investment in SkyWest, Inc. $SKYW

Key Points

• Caxton Associates LLP made a new investment in SkyWest, Inc., acquiring 24,132 shares valued at approximately $2.11 million, which represents about 0.06% of the company's shares.
• SkyWest reported a quarterly earnings per share (EPS) of $2.91, significantly beating analysts' expectations of $2.34, with a year-over-year revenue increase of 19.4%.
• Despite insider sales, analysts remain bullish with many upgrading SkyWest to a "buy" rating, leading to an average price target of $126.75.

Caxton Associates LLP purchased a new position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,132 shares of the transportation company's stock, valued at approximately $2,108,000. Caxton Associates LLP owned about 0.06% of SkyWest at the end of the most recent quarter.

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

SkyWest Price Performance

NASDAQ:SKYW opened at $109.42 on Tuesday. SkyWest, Inc. has a one year low of $72.70 and a one year high of $135.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.73. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.18 and a beta of 1.92. The firm's fifty day moving average is $114.20 and its two-hundred day moving average is $100.83.

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

Insider Buying and Selling

In other news, insider Wade J. Steel sold 17,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $118.26, for a total transaction of $2,010,420.00. Following the sale, the insider directly owned 102,416 shares of the company's stock, valued at $12,111,716.16. This represents a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Greg Wooley sold 2,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $116.83, for a total transaction of $233,660.00. Following the sale, the vice president directly owned 66,737 shares in the company, valued at approximately $7,796,883.71. The trade was a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,186 shares of company stock valued at $10,440,398 in the last 90 days. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SKYW shares. Raymond James Financial boosted their price objective on shares of SkyWest from $128.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Evercore ISI boosted 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. Finally, Wall Street Zen raised shares of SkyWest from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, SkyWest 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.

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