Caxton Associates LLP Buys Shares of 24,132 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 acquired a new stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 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 reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hohimer Wealth Management LLC increased its position in SkyWest by 4.7% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,829 shares of the transportation company's stock valued at $247,000 after purchasing an additional 126 shares during the period. Xponance Inc. grew its position in SkyWest by 5.9% in the 1st quarter. Xponance Inc. now owns 2,974 shares of the transportation company's stock valued at $260,000 after purchasing an additional 166 shares during the period. GAMMA Investing LLC grew its position in 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. Wealth Enhancement Advisory Services LLC grew its position in 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in SkyWest by 1.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,057 shares of the transportation company's stock valued at $1,608,000 after acquiring an additional 193 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

SkyWest Stock Performance

SkyWest stock traded down $1.66 during midday trading on Friday, reaching $107.66. The stock had a trading volume of 401,801 shares, compared to its average volume of 361,570. SkyWest, Inc. has a 12 month low of $74.70 and a 12 month high of $135.57. The firm's 50-day moving average price is $114.36 and its 200 day moving average price is $101.11. The firm has a market capitalization of $4.35 billion, a PE ratio of 10.95, a P/E/G ratio of 1.06 and a beta of 1.92. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.78.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore ISI raised their price objective on SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Raymond James Financial lifted their target price on SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, SkyWest presently has a consensus rating of "Buy" and an average target price of $126.75.

Insiders Place Their Bets

In other SkyWest news, VP Greg Wooley sold 2,000 shares of SkyWest 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 completion of the transaction, the vice president owned 66,737 shares of the company's stock, valued at $7,796,883.71. The trade was a 2.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction, the insider directly owned 102,416 shares of the company's stock, valued at $12,111,716.16. The trade was a 14.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,186 shares of company stock worth $10,440,398 in the last ninety days. 2.00% of the stock is owned by corporate insiders.

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.