Concurrent Investment Advisors LLC Invests $236,000 in SkyWest, Inc. (NASDAQ:SKYW)

Concurrent Investment Advisors LLC bought a new position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,701 shares of the transportation company's stock, valued at approximately $236,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in shares of SkyWest during the first quarter worth $27,000. NBC Securities Inc. bought a new stake in shares of SkyWest during the first quarter worth $32,000. New Age Alpha Advisors LLC bought a new stake in shares of SkyWest during the fourth quarter worth $39,000. Headlands Technologies LLC bought a new stake in shares of SkyWest during the fourth quarter worth $45,000. Finally, Jones Financial Companies Lllp raised its position in shares of SkyWest by 117.2% during the fourth quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company's stock worth $83,000 after acquiring an additional 449 shares during the last quarter. Institutional investors own 81.30% of the company's stock.

Insider Buying and Selling at SkyWest

In other SkyWest news, CEO Russell A. Childs sold 17,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $100.91, for a total value of $1,715,470.00. Following the completion of the transaction, the chief executive officer directly owned 449,242 shares of the company's stock, valued at approximately $45,333,010.22. The trade was a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert J. Simmons sold 17,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $103.75, for a total value of $1,763,750.00. Following the completion of the transaction, the chief financial officer directly owned 131,203 shares of the company's stock, valued at approximately $13,612,311.25. The trade was a 11.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,000 shares of company stock valued at $4,994,520. Company insiders own 2.00% of the company's stock.

SkyWest Stock Down 1.6%

Shares of SkyWest stock opened at $111.76 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.76 and a debt-to-equity ratio of 0.84. SkyWest, Inc. has a 12 month low of $64.61 and a 12 month high of $135.57. The business has a fifty day simple moving average of $101.44 and a 200 day simple moving average of $99.23. The stock has a market cap of $4.52 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.36 and a beta of 1.88.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.38. SkyWest had a return on equity of 15.41% and a net margin of 9.89%. The firm had revenue of $948.46 million during the quarter, compared to analysts' expectations of $946.13 million. During the same period in the previous year, the firm earned $1.45 earnings per share. The company's revenue was up 18.0% on a year-over-year basis. Research analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

SkyWest declared that its board has initiated a share repurchase plan on Wednesday, May 7th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the transportation company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

SKYW has been the subject of a number of recent research reports. Wall Street Zen upgraded SkyWest from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. The Goldman Sachs Group raised SkyWest from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $119.00 to $117.00 in a research note on Tuesday, April 8th. Evercore ISI raised SkyWest from an "in-line" rating to an "outperform" rating and set a $120.00 price objective for the company in a research note on Tuesday, July 1st. Finally, Raymond James Financial decreased their price objective on SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $120.50.

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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