Millennium Management LLC Acquires 4,416 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Millennium Management LLC increased its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,582 shares of the transportation company's stock after buying an additional 4,416 shares during the quarter. Millennium Management LLC owned 0.40% of SkyWest worth $15,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Wealthfront Advisers LLC bought a new stake in SkyWest in the 4th quarter worth approximately $146,935,000. American Century Companies Inc. lifted its position in SkyWest by 7.5% in the 4th quarter. American Century Companies Inc. now owns 1,390,300 shares of the transportation company's stock worth $139,211,000 after buying an additional 97,108 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in SkyWest by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 709,355 shares of the transportation company's stock worth $71,028,000 after buying an additional 26,561 shares during the last quarter. Invesco Ltd. lifted its position in SkyWest by 4.2% in the 4th quarter. Invesco Ltd. now owns 543,009 shares of the transportation company's stock worth $54,371,000 after buying an additional 21,637 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in SkyWest by 57.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 525,722 shares of the transportation company's stock worth $52,641,000 after buying an additional 192,543 shares during the last quarter. Institutional investors own 81.30% of the company's stock.

SkyWest Trading Up 3.8%

SKYW stock traded up $3.73 during midday trading on Tuesday, hitting $101.65. The company had a trading volume of 346,011 shares, compared to its average volume of 396,149. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. SkyWest, Inc. has a 52 week low of $64.61 and a 52 week high of $135.57. The stock's 50 day moving average price is $91.58 and its 200 day moving average price is $100.80. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 13.08 and a beta of 1.88.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The transportation company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.38. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. The firm had revenue of $948.46 million during the quarter, compared to the consensus estimate of $946.13 million. During the same quarter in the previous year, the company posted $1.45 earnings per share. The business's revenue was up 18.0% on a year-over-year basis. As a group, equities research analysts expect that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SKYW shares. The Goldman Sachs Group upgraded SkyWest from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $119.00 to $117.00 in a research report on Tuesday, April 8th. Wall Street Zen upgraded SkyWest from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Raymond James lowered their price objective 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 Company Profile

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.