Deutsche Bank AG Increases Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

Key Points

• Deutsche Bank AG increased its stake in SkyWest, Inc. by 9.4%, acquiring an additional 10,546 shares to hold 123,312 shares valued at approximately $10.8 million as of its latest SEC filing.
• Several hedge funds recently invested in SkyWest, collectively owning 81.30% of its stock, highlighting growing institutional interest in the company.
• SkyWest's stock has received positive ratings from analysts, with an average target price of $126.75 and a recent upgrade to a "buy" rating from a "hold".

Deutsche Bank AG boosted its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 9.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,312 shares of the transportation company's stock after buying an additional 10,546 shares during the period. Deutsche Bank AG owned approximately 0.30% of SkyWest worth $10,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SKYW. Financial Management Professionals Inc. purchased a new position in SkyWest in the 1st quarter valued at $27,000. NBC Securities Inc. purchased a new position in SkyWest in the 1st quarter valued at $32,000. Bridge Generations Wealth Management LLC purchased a new position in SkyWest in the 4th quarter valued at $100,000. Quarry LP grew its position in SkyWest by 94.1% in the 4th quarter. Quarry LP now owns 1,023 shares of the transportation company's stock valued at $102,000 after buying an additional 496 shares during the last quarter. Finally, CoreCap Advisors LLC grew its position in SkyWest by 43.6% in the 4th quarter. CoreCap Advisors LLC now owns 1,083 shares of the transportation company's stock valued at $108,000 after buying an additional 329 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SkyWest

In other news, CAO Eric Woodward sold 7,000 shares of SkyWest stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $116.67, for a total transaction of $816,690.00. Following the completion of the transaction, the chief accounting officer owned 47,810 shares of the company's stock, valued at $5,577,992.70. The trade was a 12.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Robert J. Simmons sold 17,186 shares of SkyWest stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $117.46, for a total value of $2,018,667.56. Following the transaction, the chief financial officer directly owned 114,017 shares of the company's stock, valued at $13,392,436.82. This trade represents a 13.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,186 shares of company stock worth $15,201,258. Insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SKYW shares. Wall Street Zen raised SkyWest from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Raymond James Financial raised their target price on SkyWest from $128.00 to $140.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Evercore ISI raised their target price on SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SkyWest presently has a consensus rating of "Buy" and an average target price of $126.75.

SkyWest Trading Down 1.6%

NASDAQ:SKYW opened at $116.67 on Friday. The company has a market capitalization of $4.71 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.17 and a beta of 1.98. 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, Inc. has a 52-week low of $72.09 and a 52-week high of $135.57. The stock has a fifty day simple moving average of $107.60 and a 200-day simple moving average of $100.14.

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

SkyWest declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 7th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the transportation company to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

SkyWest Company 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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