Invst LLC Buys 3,270 Shares of SkyWest, Inc. $SKYW

Key Points

• Invst LLC increased its stake in SkyWest, Inc. by 52.9%, acquiring an additional 3,270 shares, bringing its total ownership to 9,457 shares valued at approximately $826,000.
• Several hedge funds made significant moves in SkyWest stock, with institutional investors now holding 81.30% of the company’s shares.
• SkyWest recently reported earnings of $2.91 per share, exceeding analysts' expectations, alongside a quarterly revenue increase of 19.4% year over year.

Invst LLC lifted its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 52.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,457 shares of the transportation company's stock after buying an additional 3,270 shares during the period. Invst LLC's holdings in SkyWest were worth $826,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in shares of SkyWest in the first quarter valued at about $27,000. NBC Securities Inc. bought a new stake in shares of SkyWest in the first quarter valued at about $32,000. Versant Capital Management Inc lifted its stake in shares of SkyWest by 83.0% in the first quarter. Versant Capital Management Inc now owns 1,274 shares of the transportation company's stock valued at $111,000 after buying an additional 578 shares during the period. GAMMA Investing LLC lifted its stake in shares of SkyWest by 11.5% in the first quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock valued at $152,000 after buying an additional 180 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of SkyWest by 32.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company's stock valued at $169,000 after buying an additional 473 shares during the period. Institutional investors own 81.30% of the company's stock.

Insider Buying and Selling

In other news, CAO Eric Woodward sold 7,000 shares of SkyWest stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $116.67, for a total value of $816,690.00. Following the completion of the transaction, the chief accounting officer owned 47,810 shares in the company, valued at approximately $5,577,992.70. The trade was a 12.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Russell A. Childs sold 26,000 shares of SkyWest stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $116.06, for a total transaction of $3,017,560.00. Following the completion of the transaction, the chief executive officer owned 404,883 shares of the company's stock, valued at $46,990,720.98. This trade represents a 6.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,186 shares of company stock valued at $10,440,398 in the last ninety days. 2.00% of the stock is owned by corporate insiders.

SkyWest Stock Performance

NASDAQ:SKYW opened at $107.66 on Friday. SkyWest, Inc. has a 1 year low of $74.70 and a 1 year high of $135.57. The firm has a 50 day moving average of $114.36 and a 200-day moving average of $101.09. 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 stock has a market capitalization of $4.35 billion, a P/E ratio of 10.95, a price-to-earnings-growth 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, beating analysts' consensus estimates of $2.34 by $0.57. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $979.95 million. During the same quarter in the previous year, the company posted $1.82 earnings per share. SkyWest's quarterly revenue was up 19.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SKYW has been the subject of several research reports. Raymond James Financial increased their target price on shares of SkyWest from $128.00 to $140.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Evercore ISI raised their price target 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. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price 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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