SkyWest, Inc. (NASDAQ:SKYW) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd raised its holdings in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 403.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,399 shares of the transportation company's stock after acquiring an additional 13,946 shares during the quarter. XTX Topco Ltd's holdings in SkyWest were worth $1,520,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of SKYW. Financial Management Professionals Inc. purchased a new stake in shares of SkyWest in the 1st quarter worth $27,000. NBC Securities Inc. purchased a new stake in shares of SkyWest in the 1st quarter worth $32,000. New Age Alpha Advisors LLC purchased a new stake in shares of SkyWest in the 4th quarter worth $39,000. Headlands Technologies LLC purchased a new stake in shares of SkyWest in the 4th quarter worth $45,000. Finally, Bridge Generations Wealth Management LLC purchased a new stake in shares of SkyWest during the 4th quarter worth $100,000. Institutional investors own 81.30% of the company's stock.

SkyWest Stock Down 5.9%

NASDAQ:SKYW traded down $6.85 during mid-day trading on Friday, hitting $109.11. 414,950 shares of the company's stock traded hands, compared to its average volume of 413,311. The company has a fifty day moving average of $105.33 and a 200 day moving average of $100.10. SkyWest, Inc. has a twelve month low of $64.61 and a twelve month high of $135.57. The company has a market capitalization of $4.41 billion, a P/E ratio of 11.10, a P/E/G ratio of 1.16 and a beta of 1.98. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.66 and a current ratio of 0.73.

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

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

Analyst Upgrades and Downgrades

SKYW has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded SkyWest from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $119.00 to $117.00 in a research note on Tuesday, April 8th. Evercore ISI upped their price objective on SkyWest from $120.00 to $130.00 and gave the stock an "outperform" rating in a research note on Monday. Raymond James Financial upped their price objective on 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 upgraded SkyWest from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $126.75.

Insiders Place Their Bets

In other news, CAO Eric Woodward sold 7,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $116.67, for a total value of $816,690.00. Following the transaction, the chief accounting officer directly owned 47,810 shares of the company's stock, valued at approximately $5,577,992.70. This represents a 12.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James L. Welch sold 10,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $118.25, for a total value of $1,182,500.00. Following the completion of the transaction, the director directly owned 37,717 shares in the company, valued at $4,460,035.25. This represents a 20.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,186 shares of company stock valued at $11,022,798. Insiders own 2.00% of the company's stock.

SkyWest 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.