Bosun Asset Management LLC Boosts Stake in SkyWest, Inc. $SKYW

Key Points

• Bosun Asset Management LLC increased its stake in SkyWest, Inc. by 79.7% in the first quarter, now owning 7,040 shares valued at approximately $615,000.
• SkyWest's stock experienced a trading increase of 1.9% and currently has a market capitalization of $4.95 billion, with a P/E ratio of 12.46.
• The company reported earnings of $2.91 per share for the last quarter, surpassing analyst estimates and reflecting a 19.4% year-over-year revenue growth.

Bosun Asset Management LLC lifted its position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 79.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,040 shares of the transportation company's stock after acquiring an additional 3,123 shares during the quarter. Bosun Asset Management LLC's holdings in SkyWest were worth $615,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its holdings in SkyWest by 1,075.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 60,181 shares of the transportation company's stock worth $5,302,000 after purchasing an additional 55,062 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in SkyWest by 5.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,322 shares of the transportation company's stock worth $290,000 after purchasing an additional 186 shares during the period. GAMMA Investing LLC raised its holdings in SkyWest by 11.5% in the 1st quarter. GAMMA Investing LLC now owns 1,741 shares of the transportation company's stock worth $152,000 after purchasing an additional 180 shares during the period. SG Americas Securities LLC acquired a new position in SkyWest in the 1st quarter worth about $1,007,000. Finally, Vontobel Holding Ltd. acquired a new position in SkyWest in the 1st quarter worth about $209,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Price Performance

SKYW stock traded down $1.28 during mid-day trading on Friday, reaching $119.22. The company's stock had a trading volume of 333,537 shares, compared to its average volume of 304,326. The stock has a market cap of $4.81 billion, a PE ratio of 12.13, a P/E/G ratio of 1.18 and a beta of 1.92. 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, Inc. has a fifty-two week low of $72.70 and a fifty-two week high of $135.57. The company's 50 day moving average is $114.08 and its two-hundred day moving average is $100.75.

SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The transportation company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.57. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $979.95 million. SkyWest had a net margin of 10.62% and a return on equity of 16.69%. SkyWest's quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 EPS. Equities research analysts expect that SkyWest, Inc. will post 9.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SKYW. Evercore ISI upped their price target on SkyWest from $120.00 to $130.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Wall Street Zen upgraded shares of SkyWest from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Raymond James Financial upped their price target on shares of SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $126.75.

Insider Buying and Selling

In other SkyWest news, insider Wade J. Steel sold 17,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $118.26, for a total value of $2,010,420.00. Following the completion of the sale, the insider owned 102,416 shares in the company, valued at approximately $12,111,716.16. This represents a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert J. Simmons sold 17,186 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 114,017 shares of the company's stock, valued at approximately $13,392,436.82. This trade represents a 13.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,186 shares of company stock worth $10,440,398 in the last 90 days. Corporate insiders own 2.00% of the company's stock.

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.