SkyWest, Inc. $SKYW Shares Acquired by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA significantly increased its stake in SkyWest, Inc. by 98.1% in Q1, now owning 6,375 shares valued at approximately $557,000.
• Multiple hedge funds have recently purchased positions in SkyWest, indicating strong institutional interest, with 81.30% of the stock owned by these investors.
• SkyWest reported earnings of $2.91 EPS for the last quarter, surpassing expectations and reflecting a 19.4% increase in revenue year-over-year.

Petrus Trust Company LTA increased its position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 98.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,375 shares of the transportation company's stock after acquiring an additional 3,157 shares during the quarter. Petrus Trust Company LTA's holdings in SkyWest were worth $557,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SKYW. Financial Management Professionals Inc. acquired a new position in SkyWest during the 1st quarter valued at approximately $27,000. NBC Securities Inc. purchased a new stake in SkyWest during the first quarter worth $32,000. CoreCap Advisors LLC boosted its holdings in SkyWest by 43.6% during the fourth quarter. CoreCap Advisors LLC now owns 1,083 shares of the transportation company's stock worth $108,000 after buying an additional 329 shares in the last quarter. Versant Capital Management Inc boosted its holdings in SkyWest by 83.0% during the first quarter. Versant Capital Management Inc now owns 1,274 shares of the transportation company's stock worth $111,000 after buying an additional 578 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in SkyWest by 11.5% during the first quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock valued at $152,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

SkyWest Stock Down 1.1%

SkyWest stock traded down $1.24 during trading on Friday, reaching $108.10. The stock had a trading volume of 90,425 shares, compared to its average volume of 399,251. SkyWest, Inc. has a 52-week low of $74.70 and a 52-week high of $135.57. The business has a 50 day moving average price of $114.36 and a 200 day moving average price of $101.02. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 0.78. The stock has a market cap of $4.36 billion, a PE ratio of 11.01, a P/E/G ratio of 1.07 and a beta of 1.92.

SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $979.95 million. During the same quarter last year, the company earned $1.82 earnings per share. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. On average, analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Activity at SkyWest

In other SkyWest news, VP Greg Wooley sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $116.83, for a total transaction of $233,660.00. Following the sale, the vice president owned 66,737 shares of the company's stock, valued at approximately $7,796,883.71. This trade represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Russell A. Childs sold 26,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $116.06, for a total transaction of $3,017,560.00. Following the sale, the chief executive officer directly owned 404,883 shares in the company, valued at approximately $46,990,720.98. The trade was a 6.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,186 shares of company stock valued at $10,440,398 in the last quarter. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SKYW. Wall Street Zen upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Raymond James Financial raised their price objective on shares of SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, Evercore ISI increased their target price 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 investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, SkyWest currently has an average rating of "Buy" and an average price target 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.