SW Investment Management LLC Has $92.67 Million Position in SkyWest, Inc. $SKYW

Key Points

• SW Investment Management LLC increased its stake in SkyWest, Inc. by 5.9% in Q2, holding 900,000 shares worth approximately $92.67 million, making it their second-largest investment position.
• Recent insider sales included Director James L. Welch selling 10,000 shares for around $1.16 million and CEO Russell A. Childs selling 26,000 shares worth approximately $3.02 million, leading to decreases in their respective ownerships.
• SkyWest has received mixed ratings from analysts, with one moving to a "strong-buy" and another downgrading to "hold", but it maintains an average price target of $126.75 among analysts.

SW Investment Management LLC grew its position in SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 900,000 shares of the transportation company's stock after acquiring an additional 50,000 shares during the period. SkyWest accounts for approximately 22.2% of SW Investment Management LLC's investment portfolio, making the stock its 2nd biggest position. SW Investment Management LLC owned 2.22% of SkyWest worth $92,673,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. GK Wealth Management LLC lifted its stake in shares of SkyWest by 2.4% in the 1st quarter. GK Wealth Management LLC now owns 4,600 shares of the transportation company's stock valued at $402,000 after acquiring an additional 106 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in shares of SkyWest by 0.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 11,893 shares of the transportation company's stock valued at $1,225,000 after acquiring an additional 106 shares during the last quarter. Hohimer Wealth Management LLC lifted its stake in shares of SkyWest by 4.7% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,829 shares of the transportation company's stock valued at $247,000 after acquiring an additional 126 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of SkyWest by 38.4% in the 2nd quarter. Fifth Third Bancorp now owns 551 shares of the transportation company's stock valued at $57,000 after acquiring an additional 153 shares during the last quarter. Finally, Xponance Inc. lifted its stake in shares of SkyWest by 5.9% in the 1st quarter. Xponance Inc. now owns 2,974 shares of the transportation company's stock valued at $260,000 after acquiring an additional 166 shares during the last quarter. 81.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director James L. Welch sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $116.09, for a total value of $1,160,900.00. Following the completion of the sale, the director directly owned 27,717 shares in the company, valued at $3,217,666.53. This trade represents a 26.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Russell A. Childs sold 26,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $116.06, for a total value of $3,017,560.00. Following the completion of the sale, the chief executive officer owned 404,883 shares of the company's stock, valued at approximately $46,990,720.98. This represents a 6.03% 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 worth $10,440,398 over the last 90 days. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SKYW has been the subject of a number of research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of SkyWest in a research note on Wednesday, October 8th. Zacks Research downgraded SkyWest from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Evercore ISI increased their price objective on SkyWest from $120.00 to $130.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Finally, Raymond James Financial upgraded SkyWest from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $126.75.

SkyWest Stock Performance

Shares of SKYW opened at $97.24 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.73 and a quick ratio of 0.63. The stock has a 50-day moving average of $110.08 and a 200-day moving average of $102.77. The company has a market cap of $3.93 billion, a PE ratio of 9.89, a P/E/G ratio of 0.96 and a beta of 1.86. SkyWest, Inc. has a one year low of $74.70 and a one year high of $135.57.

SkyWest (NASDAQ:SKYW - Get Free Report) last issued its earnings results on Thursday, July 24th. The transportation company reported $2.91 EPS for the quarter, beating the consensus estimate 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 return on equity of 16.69% and a net margin of 10.62%.The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $1.82 EPS. On average, equities research analysts predict that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

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.

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