Intech Investment Management LLC Buys 15,239 Shares of SkyWest, Inc. $SKYW

Key Points

• Intech Investment Management LLC increased its stake in SkyWest, Inc. by 47.2% during the first quarter, owning approximately 0.12% of the company valued at $4.15 million.
• SkyWest reported $2.91 earnings per share in its last earnings release, exceeding analyst expectations of $2.34, with revenue of $1.04 billion for the quarter.
• SkyWest's stock has been given a “buy” rating by several brokerages, with an average target price set at $126.75.

Intech Investment Management LLC lifted its position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 47.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,497 shares of the transportation company's stock after purchasing an additional 15,239 shares during the period. Intech Investment Management LLC owned 0.12% of SkyWest worth $4,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of SkyWest by 1,075.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 60,181 shares of the transportation company's stock worth $5,302,000 after purchasing an additional 55,062 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of SkyWest by 5.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,322 shares of the transportation company's stock valued at $290,000 after purchasing an additional 186 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of SkyWest by 11.5% in the 1st quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock valued at $152,000 after purchasing an additional 180 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of SkyWest during the 1st quarter valued at $1,007,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of SkyWest during the 1st quarter valued at $209,000. Institutional investors own 81.30% of the company's stock.

Insider Transactions at SkyWest

In related news, CFO Robert J. Simmons sold 17,186 shares of the business's stock in a transaction dated 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 in the company, valued at $13,392,436.82. The trade was a 13.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Wade J. Steel sold 17,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $118.26, for a total value of $2,010,420.00. Following the transaction, the insider owned 102,416 shares in the company, valued at approximately $12,111,716.16. This represents a 14.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,186 shares of company stock valued at $10,440,398. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SKYW shares. Evercore ISI raised their price objective on SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Raymond James Financial lifted their target price on SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $126.75.

SkyWest Stock Performance

NASDAQ SKYW traded up $0.91 on Thursday, hitting $104.54. 83,678 shares of the stock traded hands, compared to its average volume of 398,902. SkyWest, Inc. has a 12 month low of $74.70 and a 12 month high of $135.57. The business's fifty day moving average is $114.18 and its two-hundred day moving average is $101.19. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.63 and a current ratio of 0.73. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 1.03 and a beta of 1.92.

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

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.