Nuveen Asset Management LLC Increases Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Nuveen Asset Management LLC increased its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,296 shares of the transportation company's stock after buying an additional 57,547 shares during the quarter. Nuveen Asset Management LLC owned 1.03% of SkyWest worth $41,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SKYW. New Age Alpha Advisors LLC acquired a new stake in SkyWest during the 4th quarter worth about $39,000. Headlands Technologies LLC acquired a new position in shares of SkyWest in the 4th quarter valued at about $45,000. Private Trust Co. NA lifted its holdings in shares of SkyWest by 157.1% in the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company's stock valued at $49,000 after buying an additional 300 shares during the period. Sound Income Strategies LLC acquired a new position in shares of SkyWest in the 4th quarter valued at about $50,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of SkyWest by 117.2% in the 4th quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company's stock valued at $83,000 after buying an additional 449 shares during the period. Institutional investors and hedge funds own 81.30% of the company's stock.

SkyWest Price Performance

NASDAQ:SKYW opened at $101.85 on Tuesday. SkyWest, Inc. has a 12 month low of $64.61 and a 12 month high of $135.57. The stock has a 50 day moving average of $90.22 and a two-hundred day moving average of $101.12. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. The firm has a market cap of $4.12 billion, a P/E ratio of 13.11 and a beta of 1.88.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.38. The business had revenue of $948.46 million during the quarter, compared to analyst estimates of $946.13 million. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. The business's revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.45 earnings per share. On average, analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

SkyWest announced that its board has initiated a share repurchase plan on Wednesday, May 7th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the transportation company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

SKYW has been the subject of several recent analyst reports. StockNews.com upgraded SkyWest from a "hold" rating to a "buy" rating in a research note on Friday. Raymond James cut their price target on SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group upgraded SkyWest from a "neutral" rating to a "buy" rating and cut their price target for the company from $119.00 to $117.00 in a research note on Tuesday, April 8th.

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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