Ritholtz Wealth Management Has $2.14 Million Stake in SkyWest, Inc. $SKYW

Key Points

• Ritholtz Wealth Management increased its stake in SkyWest, Inc. by 27.4%, owning 20,792 shares worth approximately $2.14 million as of the last reporting period.
• SkyWest has received mixed ratings from analysts, with one firm increasing the target price to $130, while another downgraded it from "strong-buy" to "hold".
• The company's quarterly earnings results showed $2.91 EPS, surpassing expectations, and a 19.4% increase in revenue year-over-year.

Ritholtz Wealth Management increased its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 27.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 20,792 shares of the transportation company's stock after purchasing an additional 4,473 shares during the period. Ritholtz Wealth Management owned about 0.05% of SkyWest worth $2,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKYW. GAMMA Investing LLC boosted its stake in SkyWest by 11.5% in the 1st quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock worth $152,000 after purchasing an additional 180 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in SkyWest by 5.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,322 shares of the transportation company's stock worth $290,000 after purchasing an additional 186 shares during the period. CWA Asset Management Group LLC boosted its stake in SkyWest by 26.8% in the 1st quarter. CWA Asset Management Group LLC now owns 11,160 shares of the transportation company's stock worth $975,000 after purchasing an additional 2,358 shares during the period. Diversified Trust Co boosted its stake in SkyWest by 135.4% in the 1st quarter. Diversified Trust Co now owns 10,821 shares of the transportation company's stock worth $945,000 after purchasing an additional 6,224 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in SkyWest by 7.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 24,092 shares of the transportation company's stock worth $2,105,000 after purchasing an additional 1,718 shares during the period. Institutional investors and hedge funds own 81.30% of the company's stock.

Wall Street Analyst Weigh In

SKYW has been the subject of a number of research reports. Evercore ISI lifted their target price on shares of SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Weiss Ratings reissued a "buy (b-)" rating on shares of SkyWest in a research note on Wednesday, October 8th. Zacks Research lowered shares of SkyWest from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Finally, Raymond James Financial raised shares of SkyWest from a "moderate buy" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. One equities research 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. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $126.75.

Insider Buying and Selling at SkyWest

In other news, CAO Eric Woodward sold 7,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $116.67, for a total transaction of $816,690.00. Following the transaction, the chief accounting officer owned 47,810 shares in the company, valued at approximately $5,577,992.70. This trade represents a 12.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wade J. Steel sold 17,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $118.26, for a total transaction of $2,010,420.00. Following the transaction, the insider owned 102,416 shares in the company, valued at $12,111,716.16. This represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,186 shares of company stock worth $10,440,398 in the last ninety days. Company insiders own 2.00% of the company's stock.

SkyWest Stock Down 1.5%

SkyWest stock opened at $100.37 on Friday. The company has a market capitalization of $4.05 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.01 and a beta of 1.86. The firm's fifty day simple moving average is $109.25 and its 200-day simple moving average is $102.90. The company has a current ratio of 0.73, a quick ratio of 0.63 and a debt-to-equity ratio of 0.78. SkyWest, Inc. has a 1-year low of $74.70 and a 1-year high of $135.57.

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

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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