KLP Kapitalforvaltning AS Acquires 2,800 Shares of SkyWest, Inc. $SKYW

Key Points

• KLP Kapitalforvaltning AS increased its holdings in SkyWest, Inc. by 147.4%, acquiring an additional 2,800 shares, bringing its total holdings to 4,700 shares valued at approximately $484,000.
• SkyWest reported a 19.4% year-over-year increase in revenue, reaching $1.04 billion, and beat the EPS consensus estimate of $2.34 with earnings of $2.91 per share.
• Analysts have differing opinions on SkyWest's stock, with Evercore ISI raising the price target to $130 while Zacks Research downgraded the stock from a "strong-buy" to a "hold."

KLP Kapitalforvaltning AS raised its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 147.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,700 shares of the transportation company's stock after purchasing an additional 2,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in SkyWest were worth $484,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of SkyWest by 38.4% during the second quarter. Fifth Third Bancorp now owns 551 shares of the transportation company's stock valued at $57,000 after buying an additional 153 shares during the period. TD Private Client Wealth LLC purchased a new position in SkyWest in the second quarter valued at about $71,000. GAMMA Investing LLC boosted its holdings in SkyWest by 11.5% in the first quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock worth $152,000 after acquiring an additional 180 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SkyWest by 32.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,935 shares of the transportation company's stock worth $169,000 after acquiring an additional 473 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in SkyWest in the first quarter worth about $209,000. Hedge funds and other institutional investors own 81.30% of the company's stock.

SkyWest Stock Down 1.3%

Shares of SKYW opened at $99.07 on Friday. 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 stock has a 50 day moving average price of $109.01 and a 200 day moving average price of $103.06. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.98 and a beta of 1.86. SkyWest, Inc. has a one year low of $74.70 and a one year high of $135.57.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its earnings results on Thursday, July 24th. The transportation company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.57. The company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $979.95 million. SkyWest had a return on equity of 16.69% and a net margin of 10.62%.The firm's quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 EPS. Equities research analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SKYW has been the subject of several recent analyst reports. Evercore ISI raised their price target on SkyWest from $120.00 to $130.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Weiss Ratings reissued a "buy (b-)" rating on shares of SkyWest in a report on Wednesday, October 8th. Raymond James Financial raised SkyWest from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Finally, Zacks Research downgraded SkyWest from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $126.75.

Insider Buying and Selling at SkyWest

In other news, CAO Eric Woodward sold 7,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $116.67, for a total transaction of $816,690.00. Following the completion of the transaction, the chief accounting officer directly owned 47,810 shares in the company, valued at approximately $5,577,992.70. This represents a 12.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert J. Simmons sold 17,186 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $117.46, for a total value of $2,018,667.56. Following the transaction, the chief financial officer owned 114,017 shares of the company's stock, valued at approximately $13,392,436.82. This represents a 13.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,186 shares of company stock worth $10,440,398. Insiders own 2.00% of the company's stock.

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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