SG Americas Securities LLC Buys New Holdings in SkyWest, Inc. (NASDAQ:SKYW)

SG Americas Securities LLC bought a new stake in SkyWest, Inc. (NASDAQ:SKYW - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,522 shares of the transportation company's stock, valued at approximately $1,007,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SKYW. Savant Capital LLC acquired a new position in SkyWest in the fourth quarter valued at approximately $242,000. Principal Financial Group Inc. boosted its position in shares of SkyWest by 4.6% during the fourth quarter. Principal Financial Group Inc. now owns 226,601 shares of the transportation company's stock worth $22,690,000 after buying an additional 10,027 shares during the period. Sanctuary Advisors LLC grew its holdings in SkyWest by 22.1% in the 4th quarter. Sanctuary Advisors LLC now owns 3,346 shares of the transportation company's stock worth $335,000 after buying an additional 605 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in SkyWest in the 4th quarter worth approximately $254,000. Finally, Ieq Capital LLC bought a new position in SkyWest in the 4th quarter worth approximately $313,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SkyWest Trading Up 0.5%

Shares of NASDAQ SKYW traded up $0.44 during mid-day trading on Thursday, hitting $96.87. 192,425 shares of the company traded hands, compared to its average volume of 383,332. SkyWest, Inc. has a 1 year low of $64.61 and a 1 year high of $135.57. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.19 and a beta of 1.90. The company has a quick ratio of 0.66, a current ratio of 0.76 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average of $95.92 and a two-hundred day moving average of $99.47.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The transportation company reported $2.42 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 the consensus estimate of $946.13 million. SkyWest had a return on equity of 15.41% and a net margin of 9.89%. The company's revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.45 EPS. On average, sell-side analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

SkyWest declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 7th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the transportation company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at SkyWest

In related news, insider Wade J. Steel sold 15,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was 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 directly owns 119,416 shares of the company's stock, valued at $12,063,404.32. This trade represents a 11.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Russell A. Childs sold 17,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $100.91, for a total value of $1,715,470.00. Following the completion of the transaction, 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. Insiders have sold 49,000 shares of company stock worth $4,994,520 over the last 90 days. Company insiders own 2.00% of the company's stock.

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.