SkyWest, Inc. (NASDAQ:SKYW) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 44.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,954 shares of the transportation company's stock after buying an additional 3,679 shares during the quarter. ProShare Advisors LLC's holdings in SkyWest were worth $1,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. New Age Alpha Advisors LLC purchased a new position in shares of SkyWest during the 4th quarter valued at approximately $39,000. Headlands Technologies LLC purchased a new stake in shares of SkyWest in the fourth quarter valued at approximately $45,000. Private Trust Co. NA raised its stake in shares of SkyWest by 157.1% during the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company's stock worth $49,000 after buying an additional 300 shares during the period. Sound Income Strategies LLC purchased a new position in shares of SkyWest during the 4th quarter valued at approximately $50,000. Finally, Jones Financial Companies Lllp increased its holdings in SkyWest by 117.2% in the 4th quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company's stock worth $83,000 after acquiring an additional 449 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

SkyWest Trading Down 1.0%

Shares of SKYW traded down $1.00 during midday trading on Wednesday, reaching $100.65. The company had a trading volume of 41,051 shares, compared to its average volume of 394,799. The firm has a 50 day simple moving average of $91.58 and a 200-day simple moving average of $100.80. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. The stock has a market cap of $4.07 billion, a PE ratio of 12.96 and a beta of 1.88. SkyWest, Inc. has a 1-year low of $64.61 and a 1-year high of $135.57.

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

SkyWest declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 7th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the transportation company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

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.