Intech Investment Management LLC Raises Stake in 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 raised its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 47.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,497 shares of the transportation company's stock after buying an additional 15,239 shares during the quarter. Intech Investment Management LLC owned approximately 0.12% of SkyWest worth $4,150,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in SkyWest in the 1st quarter valued at $27,000. NBC Securities Inc. acquired a new position in shares of SkyWest in the 1st quarter valued at $32,000. Versant Capital Management Inc lifted its stake in shares of SkyWest by 83.0% in the 1st quarter. Versant Capital Management Inc now owns 1,274 shares of the transportation company's stock valued at $111,000 after purchasing an additional 578 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of SkyWest by 32.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company's stock valued at $169,000 after purchasing an additional 473 shares during the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.

SkyWest Price Performance

SKYW opened at $107.66 on Friday. The stock's 50-day moving average price is $114.36 and its 200 day moving average price is $101.09. SkyWest, Inc. has a 12-month low of $74.70 and a 12-month high of $135.57. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.08 and a beta of 1.92.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other SkyWest news, insider Wade J. Steel sold 17,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $118.26, for a total value of $2,010,420.00. Following the sale, the insider owned 102,416 shares of the company's stock, valued at $12,111,716.16. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Russell A. Childs sold 26,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $116.06, for a total value of $3,017,560.00. Following the completion of the sale, the chief executive officer directly owned 404,883 shares in the company, valued at $46,990,720.98. This represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,186 shares of company stock worth $10,440,398 over the last ninety days. Company insiders own 2.00% of the company's stock.

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.

Want to see what other hedge funds are holding SKYW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SkyWest, Inc. (NASDAQ:SKYW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.