SkyWest, Inc. $SKYW Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. raised its holdings in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 21.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,858 shares of the transportation company's stock after buying an additional 11,186 shares during the quarter. Edgestream Partners L.P. owned approximately 0.16% of SkyWest worth $5,772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. California State Teachers Retirement System raised its stake in SkyWest by 0.8% during the second quarter. California State Teachers Retirement System now owns 11,165 shares of the transportation company's stock worth $1,150,000 after purchasing an additional 87 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of SkyWest by 1.7% during the 4th quarter. Maryland State Retirement & Pension System now owns 5,901 shares of the transportation company's stock valued at $593,000 after buying an additional 96 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of SkyWest by 4.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,500 shares of the transportation company's stock valued at $257,000 after buying an additional 100 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of SkyWest by 1.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,192 shares of the transportation company's stock worth $923,000 after buying an additional 100 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of SkyWest by 1.7% during the 4th quarter. CWM LLC now owns 6,601 shares of the transportation company's stock worth $663,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SKYW. Citigroup boosted their price target on SkyWest from $95.00 to $105.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Weiss Ratings upgraded SkyWest from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 16th. The Goldman Sachs Group lowered SkyWest from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $126.00 to $115.00 in a research note on Thursday, July 2nd. Finally, TD Cowen boosted their target price on SkyWest from $98.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $119.40.

Insider Activity

In other news, CEO Russell A. Childs sold 50,500 shares of SkyWest stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $113.21, for a total transaction of $5,717,105.00. Following the sale, the chief executive officer owned 346,190 shares in the company, valued at $39,192,169.90. This trade represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

SkyWest Trading Down 1.3%

NASDAQ:SKYW opened at $108.26 on Friday. The business's 50-day moving average is $94.30 and its two-hundred day moving average is $94.69. The firm has a market capitalization of $4.20 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.57 and a beta of 1.45. SkyWest, Inc. has a 12 month low of $77.89 and a 12 month high of $123.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.57 and a quick ratio of 0.51.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its earnings results on Thursday, July 23rd. The transportation company reported $2.54 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.16). The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.11 billion. SkyWest had a net margin of 9.78% and a return on equity of 14.58%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.91 earnings per share. Research analysts predict that SkyWest, Inc. will post 10.69 earnings per share for the current fiscal year.

SkyWest announced that its board has authorized a share buyback plan on Thursday, July 23rd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the transportation company to repurchase up to 6.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

SkyWest Profile

SkyWest, Inc NASDAQ: SKYW is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.

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