Counterpoint Mutual Funds LLC Invests $751,000 in SkyWest, Inc. $SKYW

Key Points

• Counterpoint Mutual Funds LLC has invested $751,000 in SkyWest, Inc., acquiring 7,297 shares of the company during the 2nd quarter.
• SkyWest's stock outperformed analysts' expectations with $2.91 earnings per share for the last quarter, compared to the consensus estimate of $2.34.
• Institutional investors dominate ownership, holding approximately 81.30% of SkyWest's stock, highlighting strong interest from the investment community.

Counterpoint Mutual Funds LLC bought a new position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,297 shares of the transportation company's stock, valued at approximately $751,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 buying an additional 55,062 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of 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 buying an additional 186 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of 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 buying an additional 180 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of SkyWest in the first quarter worth approximately $1,007,000. Finally, Intech Investment Management LLC lifted its stake in shares of SkyWest by 47.2% in the first quarter. Intech Investment Management LLC now owns 47,497 shares of the transportation company's stock worth $4,150,000 after buying an additional 15,239 shares in the last quarter. Institutional investors own 81.30% of the company's stock.

SkyWest Stock Performance

SKYW opened at $103.12 on Tuesday. The firm has a market cap of $4.16 billion, a P/E ratio of 10.49, a PEG ratio of 1.03 and a beta of 1.92. SkyWest, Inc. has a 1-year low of $74.70 and a 1-year high of $135.57. The company has a 50 day simple moving average of $113.66 and a two-hundred day simple moving average of $101.59. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $979.95 million. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The company's revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 earnings per share. Equities analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Activity

In related news, Director James L. Welch sold 10,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $116.09, for a total transaction of $1,160,900.00. Following the completion of the transaction, the director owned 27,717 shares in the company, valued at approximately $3,217,666.53. This represents a 26.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert J. Simmons sold 17,186 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $117.46, for a total transaction of $2,018,667.56. Following the transaction, the chief financial officer owned 114,017 shares of the company's stock, valued at approximately $13,392,436.82. This represents a 13.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,186 shares of company stock valued at $10,440,398 in the last quarter. Company insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SKYW shares. Raymond James Financial upped their target price on shares of SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a research note 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. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, SkyWest presently has a consensus rating of "Buy" and an average target price 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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