Cwm LLC Has $717,000 Stock Holdings in SkyWest, Inc. $SKYW

Key Points

• Cwm LLC increased its stock holdings in SkyWest, Inc. by 138.4% during the second quarter, bringing its total investment in the company to approximately $717,000.
• Insiders sold a combined total of 89,186 shares of SkyWest stock valued at around $10.4 million in the past three months, indicating a notable decrease in their ownership.
• SkyWest recently reported a 19.4% year-over-year revenue increase, with earnings per share of $2.91 for the last quarter, surpassing analysts' expectations.

Cwm LLC increased its holdings in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 138.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,967 shares of the transportation company's stock after purchasing an additional 4,045 shares during the period. Cwm LLC's holdings in SkyWest were worth $717,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC raised its position in SkyWest by 32.0% in the second quarter. Concurrent Investment Advisors LLC now owns 3,566 shares of the transportation company's stock worth $367,000 after purchasing an additional 865 shares in the last quarter. Blue Trust Inc. raised its position in SkyWest by 478.6% in the second quarter. Blue Trust Inc. now owns 567 shares of the transportation company's stock worth $58,000 after purchasing an additional 469 shares in the last quarter. Maryland State Retirement & Pension System raised its position in SkyWest by 0.9% in the second quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company's stock worth $1,225,000 after purchasing an additional 106 shares in the last quarter. KLP Kapitalforvaltning AS raised its position in SkyWest by 147.4% in the second quarter. KLP Kapitalforvaltning AS now owns 4,700 shares of the transportation company's stock worth $484,000 after purchasing an additional 2,800 shares in the last quarter. Finally, 111 Capital bought a new stake in SkyWest during the second quarter worth about $372,000. Institutional investors and hedge funds own 81.30% of the company's stock.

Insider Buying and Selling at SkyWest

In other news, VP Greg Wooley sold 2,000 shares of the 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 sale, the vice president directly owned 66,737 shares of the company's stock, valued at $7,796,883.71. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wade J. Steel sold 17,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $12,111,716.16. This trade represents a 14.24% 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 over the last three months. Insiders own 2.00% of the company's stock.

SkyWest Price Performance

SKYW opened at $99.05 on Friday. SkyWest, Inc. has a one year low of $74.70 and a one year high of $135.57. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63. The company's 50 day simple moving average is $107.82 and its 200-day simple moving average is $103.44. The stock has a market capitalization of $4.00 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 0.99 and a beta of 1.86.

SkyWest (NASDAQ:SKYW - Get Free Report) last released 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 business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $979.95 million. During the same period in the prior year, the firm earned $1.82 earnings per share. SkyWest's revenue was up 19.4% compared to the same quarter last year. Sell-side analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Raymond James Financial raised shares of SkyWest from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Zacks Research cut shares of SkyWest from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of SkyWest in a research note on Wednesday, October 8th. Finally, Evercore ISI upped their price objective on shares of SkyWest from $120.00 to $130.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $126.75.

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.

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