SkyWest, Inc. (NASDAQ:SKYW) Shares Purchased by Headlands Technologies LLC

Key Points

• Headlands Technologies LLC increased its holdings in SkyWest, Inc. by 834.8% in Q1, reaching a total of 4,160 shares valued at $363,000.
• SkyWest's recent quarterly earnings report showed a net margin of 10.62% and a revenue of $1.04 billion, surpassing analysts’ expectations.
• Several analysts have raised their price targets for SkyWest, with the consensus target now at $126.75 and a majority giving the stock a "buy" rating.

Headlands Technologies LLC lifted its holdings in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 834.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,160 shares of the transportation company's stock after acquiring an additional 3,715 shares during the quarter. Headlands Technologies LLC's holdings in SkyWest were worth $363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC lifted its holdings in SkyWest by 4.7% during the first quarter. Hohimer Wealth Management LLC now owns 2,829 shares of the transportation company's stock valued at $247,000 after purchasing an additional 126 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of SkyWest by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,145 shares of the transportation company's stock worth $415,000 after buying an additional 131 shares in the last quarter. Comerica Bank lifted its stake in shares of SkyWest by 1.1% in the fourth quarter. Comerica Bank now owns 14,786 shares of the transportation company's stock worth $1,481,000 after buying an additional 161 shares in the last quarter. Xponance Inc. lifted its stake in shares of SkyWest by 5.9% in the first quarter. Xponance Inc. now owns 2,974 shares of the transportation company's stock worth $260,000 after buying an additional 166 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of SkyWest by 11.5% in the first quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock worth $152,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

Insider Activity

In other SkyWest news, insider Wade J. Steel sold 17,000 shares of SkyWest stock in a transaction dated 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 completion of the sale, the insider directly owned 102,416 shares in the company, valued at $12,111,716.16. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert J. Simmons sold 17,186 shares of SkyWest stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $117.46, for a total transaction of $2,018,667.56. Following the sale, the chief financial officer owned 114,017 shares of the company's stock, valued at approximately $13,392,436.82. This represents a 13.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,186 shares of company stock valued at $11,022,798 in the last quarter. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SKYW shares. Evercore ISI raised their price target on shares of SkyWest from $120.00 to $130.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Raymond James Financial raised their price target on shares of SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, Wall Street Zen raised shares of SkyWest from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, SkyWest presently has a consensus rating of "Buy" and a consensus target price of $126.75.

SkyWest Price Performance

SkyWest stock opened at $110.81 on Friday. SkyWest, Inc. has a 12-month low of $71.86 and a 12-month high of $135.57. The stock has a market cap of $4.47 billion, a P/E ratio of 11.27, a PEG ratio of 1.09 and a beta of 1.98. The company has a 50-day moving average price of $106.52 and a 200 day moving average price of $100.00. 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 (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.57. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $979.95 million. During the same period last year, the business earned $1.82 earnings per share. SkyWest's revenue was up 19.4% compared to the same quarter last year. Sell-side analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

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

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.

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