SkyWest, Inc. (NASDAQ:SKYW) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp raised its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 297.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 18,831 shares of the transportation company's stock after buying an additional 14,089 shares during the quarter. Mackenzie Financial Corp's holdings in SkyWest were worth $1,886,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SKYW. Barclays PLC raised its holdings in SkyWest by 563.8% during the third quarter. Barclays PLC now owns 152,940 shares of the transportation company's stock worth $13,002,000 after purchasing an additional 129,901 shares in the last quarter. Highland Capital Management LLC raised its stake in shares of SkyWest by 6.1% during the 4th quarter. Highland Capital Management LLC now owns 2,783 shares of the transportation company's stock worth $279,000 after buying an additional 160 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of SkyWest in the 4th quarter valued at approximately $275,000. Precision Wealth Strategies LLC purchased a new stake in shares of SkyWest in the fourth quarter valued at approximately $229,000. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of SkyWest by 172.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 29,268 shares of the transportation company's stock valued at $2,931,000 after buying an additional 18,520 shares in the last quarter. Hedge funds and other institutional investors own 81.30% of the company's stock.

Wall Street Analysts Forecast Growth

SKYW has been the subject of a number of recent analyst reports. Raymond James reduced their target price on SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Wall Street Zen upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group raised shares of SkyWest from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $119.00 to $117.00 in a research note on Tuesday, April 8th.

Insider Buying and Selling at SkyWest

In other news, insider Wade J. Steel sold 15,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $101.02, for a total transaction of $1,515,300.00. Following the completion of the transaction, the insider now owns 119,416 shares of the company's stock, valued at $12,063,404.32. This represents a 11.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Russell A. Childs sold 17,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $100.91, for a total transaction of $1,715,470.00. Following the completion of the sale, the chief executive officer now directly owns 449,242 shares in the company, valued at $45,333,010.22. This represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

SkyWest Price Performance

Shares of SKYW traded down $2.84 during trading hours on Wednesday, reaching $100.65. 289,768 shares of the company traded hands, compared to its average volume of 389,317. The stock has a market capitalization of $4.07 billion, a PE ratio of 12.95 and a beta of 1.88. The stock has a fifty day simple moving average of $92.77 and a 200 day simple moving average of $100.46. SkyWest, Inc. has a fifty-two week low of $64.61 and a fifty-two week high of $135.57. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89.

SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.38. The company had revenue of $948.46 million for the quarter, compared to analysts' expectations of $946.13 million. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. The firm's revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $1.45 EPS. As a group, research analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

SkyWest declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 7th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

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.