12,300 Shares in SkyWest, Inc. $SKYW Acquired by Strs Ohio

Key Points

• Strs Ohio acquired a new stake in SkyWest, Inc., purchasing 12,300 shares valued at approximately $1.08 million during the first quarter.
• SkyWest reported a quarterly earnings per share of $2.91, exceeding estimates and reflecting 19.4% year-over-year revenue growth.
• Several analysts have raised their price targets for SkyWest, with an average target price of $126.75 and a consensus rating of "Buy."

Strs Ohio purchased a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,300 shares of the transportation company's stock, valued at approximately $1,075,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC bought a new position in SkyWest in the 1st quarter worth $37,474,000. GAMMA Investing LLC increased its stake in shares of SkyWest by 9,644.5% in the first quarter. GAMMA Investing LLC now owns 152,111 shares of the transportation company's stock worth $13,290,000 after purchasing an additional 150,550 shares during the period. Brandywine Global Investment Management LLC acquired a new position in shares of SkyWest during the 1st quarter worth about $12,839,000. Panagora Asset Management Inc. boosted its stake in SkyWest by 243.9% during the 1st quarter. Panagora Asset Management Inc. now owns 176,573 shares of the transportation company's stock valued at $15,427,000 after purchasing an additional 125,235 shares during the period. Finally, Bandera Partners LLC grew its holdings in SkyWest by 138.1% in the 1st quarter. Bandera Partners LLC now owns 209,000 shares of the transportation company's stock valued at $18,260,000 after buying an additional 121,240 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Price Performance

Shares of SKYW traded down $1.12 during trading hours on Monday, hitting $103.12. The stock had a trading volume of 246,434 shares, compared to its average volume of 402,602. SkyWest, Inc. has a 52 week low of $74.70 and a 52 week high of $135.57. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 1.03 and a beta of 1.92. The company's fifty day moving average is $113.66 and its two-hundred day moving average is $101.59. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its earnings results on Thursday, July 24th. The transportation company reported $2.91 earnings per share (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 analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 earnings per share. On average, analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Buying and Selling

In other SkyWest news, VP Greg Wooley sold 2,000 shares of the firm's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $116.83, for a total value of $233,660.00. Following the completion of the sale, the vice president owned 66,737 shares in the company, valued at approximately $7,796,883.71. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Wade J. Steel sold 17,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $118.26, for a total transaction of $2,010,420.00. Following the transaction, the insider owned 102,416 shares in the company, valued at $12,111,716.16. The trade was a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,186 shares of company stock valued at $10,440,398 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SKYW shares. Raymond James Financial upped their price target on SkyWest from $128.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Evercore ISI upped their target price on shares of SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $126.75.

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.