Deutsche Bank AG Invests $8.67 Million in SkyWest, Inc. $SKYW

Key Points

• Deutsche Bank acquired 87,316 SkyWest shares worth approximately $8.67 million, giving it a 0.22% stake. Institutional investors collectively own 81.3% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $119.40, although recent ratings were mixed, including upgrades from TD Cowen and a downgrade from Goldman Sachs.
• SkyWest missed quarterly earnings and revenue estimates, while insiders sold more than 115,000 shares over the past three months. Separately, the company authorized a $250 million share repurchase program covering up to 6.6% of outstanding shares.

Deutsche Bank AG acquired a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 87,316 shares of the transportation company's stock, valued at approximately $8,673,000. Deutsche Bank AG owned 0.22% of SkyWest as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of SkyWest by 480.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company's stock worth $26,000 after purchasing an additional 216 shares during the period. Transamerica Financial Advisors LLC raised its stake in SkyWest by 273.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company's stock worth $27,000 after purchasing an additional 197 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of SkyWest in the 1st quarter valued at $26,000. Johnson Financial Group Inc. acquired a new position in shares of SkyWest in the 3rd quarter valued at $62,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of SkyWest by 118.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company's stock valued at $64,000 after buying an additional 339 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SKYW. Citigroup upped their price objective on SkyWest from $95.00 to $105.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. TD Cowen boosted their price target on SkyWest from $98.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. The Goldman Sachs Group lowered SkyWest from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $126.00 to $115.00 in a research note on Thursday, July 2nd. Finally, Weiss Ratings upgraded SkyWest from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $119.40.

Insider Buying and Selling

In other SkyWest news, insider Wade J. Steel sold 22,000 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $111.44, for a total transaction of $2,451,680.00. Following the transaction, the insider owned 55,438 shares in the company, valued at $6,178,010.72. The trade was a 28.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert J. Simmons sold 25,000 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $110.49, for a total value of $2,762,250.00. Following the transaction, the chief financial officer owned 93,902 shares in the company, valued at approximately $10,375,231.98. This represents a 21.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 115,226 shares of company stock valued at $12,855,192. 1.50% of the stock is owned by company insiders.

SkyWest Stock Performance

Shares of SKYW stock opened at $101.09 on Monday. The company's fifty day simple moving average is $101.51 and its 200-day simple moving average is $95.64. SkyWest, Inc. has a 52 week low of $77.89 and a 52 week high of $123.94. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 0.59. The company has a market cap of $3.93 billion, a PE ratio of 10.05, a P/E/G ratio of 1.45 and a beta of 1.45.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The transportation company reported $2.54 earnings per share for the quarter, missing analysts' consensus estimates of $2.70 by ($0.16). SkyWest had a return on equity of 14.58% and a net margin of 9.78%.The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period last year, the company posted $2.91 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts anticipate that SkyWest, Inc. will post 10.69 EPS for the current year.

SkyWest declared that its board has authorized a share buyback program on Thursday, July 23rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the transportation company to reacquire up to 6.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

SkyWest Profile

SkyWest, Inc NASDAQ: SKYW is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.

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