Invst LLC Purchases 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 position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 52.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,457 shares of the transportation company's stock after purchasing an additional 3,270 shares during the period. Invst LLC's holdings in SkyWest were worth $826,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SKYW. Nuveen LLC bought a new stake in SkyWest in the first quarter valued at $37,474,000. GAMMA Investing LLC raised its position in shares of SkyWest by 9,644.5% in the 1st quarter. GAMMA Investing LLC now owns 152,111 shares of the transportation company's stock worth $13,290,000 after purchasing an additional 150,550 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new position in shares of SkyWest in the 1st quarter worth about $12,839,000. Panagora Asset Management Inc. raised its position in shares of SkyWest by 243.9% in the 1st quarter. Panagora Asset Management Inc. now owns 176,573 shares of the transportation company's stock worth $15,427,000 after purchasing an additional 125,235 shares during the last quarter. Finally, Bandera Partners LLC raised its position in SkyWest by 138.1% in the 1st quarter. Bandera Partners LLC now owns 209,000 shares of the transportation company's stock worth $18,260,000 after buying an additional 121,240 shares during the last quarter. Institutional investors own 81.30% of the company's stock.

Insider Buying and Selling

In other SkyWest news, insider Wade J. Steel sold 17,000 shares of the company's stock in a transaction on 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 transaction, the insider owned 102,416 shares of the company's stock, valued at $12,111,716.16. This represents a 14.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James L. Welch sold 10,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $116.09, for a total value of $1,160,900.00. Following the transaction, the director directly owned 27,717 shares in the company, valued at $3,217,666.53. The trade was a 26.51% 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 worth $10,440,398 over the last ninety days. Corporate insiders own 2.00% of the company's stock.

SkyWest Price Performance

Shares of SkyWest stock traded up $1.03 during trading hours on Thursday, reaching $104.66. The company's stock had a trading volume of 96,413 shares, compared to its average volume of 398,938. The firm has a 50 day moving average price of $114.18 and a 200-day moving average price of $101.19. SkyWest, Inc. has a one year low of $74.70 and a one year high of $135.57. The stock has a market cap of $4.23 billion, a P/E ratio of 10.65, a P/E/G ratio of 1.03 and a beta of 1.92. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63.

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 for the quarter, beating the consensus estimate 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 analyst estimates of $979.95 million. During the same quarter in the prior year, the firm posted $1.82 EPS. SkyWest's quarterly revenue was up 19.4% compared to the same quarter last year. On average, analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SKYW shares. Raymond James Financial boosted their target price on SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Evercore ISI boosted their price objective on SkyWest from $120.00 to $130.00 and gave the company 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.com, SkyWest presently has a consensus rating of "Buy" and a consensus price target of $126.75.

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.