Millennium Management LLC Has $15.98 Million Stake in SkyWest, Inc. (NASDAQ:SKYW)

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

Several other hedge funds and other institutional investors have also bought and sold shares of SKYW. Barclays PLC boosted its stake in SkyWest by 563.8% during the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company's stock worth $13,002,000 after acquiring an additional 129,901 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in SkyWest by 1.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 28,728 shares of the transportation company's stock worth $2,877,000 after acquiring an additional 300 shares during the last quarter. Sound Income Strategies LLC bought a new position in SkyWest during the 4th quarter worth approximately $50,000. Highland Capital Management LLC boosted its stake in SkyWest by 6.1% during the 4th quarter. Highland Capital Management LLC now owns 2,783 shares of the transportation company's stock worth $279,000 after acquiring an additional 160 shares during the last quarter. Finally, Caprock Group LLC bought a new position in SkyWest during the 4th quarter worth approximately $275,000. Institutional investors own 81.30% of the company's stock.

SkyWest Stock Down 0.7%

SKYW traded down $0.73 during trading on Friday, reaching $97.92. The company had a trading volume of 162,895 shares, compared to its average volume of 396,351. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. SkyWest, Inc. has a 12 month low of $64.61 and a 12 month high of $135.57. The business's fifty day moving average price is $91.20 and its 200 day moving average price is $100.97. The company has a market cap of $3.96 billion, a P/E ratio of 12.60 and a beta of 1.88.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share for the quarter, beating 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 firm had revenue of $948.46 million for the quarter, compared to analyst estimates of $946.13 million. During the same quarter in the previous year, the firm posted $1.45 earnings per share. The business's revenue was up 18.0% on a year-over-year basis. Equities analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current year.

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

Analysts Set New Price Targets

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

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.