Tidal Investments LLC boosted its position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 54.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,757 shares of the transportation company's stock after buying an additional 4,140 shares during the period. Tidal Investments LLC's holdings in SkyWest were worth $1,177,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC acquired a new stake in shares of SkyWest in the fourth quarter worth approximately $39,000. Headlands Technologies LLC purchased a new position in SkyWest in the 4th quarter valued at $45,000. Private Trust Co. NA boosted its stake in SkyWest by 157.1% during the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company's stock worth $49,000 after purchasing an additional 300 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in SkyWest during the 4th quarter worth $50,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of SkyWest by 117.2% during the fourth quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company's stock worth $83,000 after buying an additional 449 shares in the last quarter. 81.30% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of SkyWest from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $119.00 to $117.00 in a research note on Tuesday, April 8th. Raymond James cut their price objective on shares of SkyWest from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Finally, Wall Street Zen raised shares of SkyWest from a "hold" rating to a "buy" rating in a research note on Friday, May 16th.
Read Our Latest Research Report on SKYW
Insider Transactions at SkyWest
In other SkyWest news, CEO Russell A. Childs sold 17,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $100.91, for a total transaction of $1,715,470.00. Following the completion of the sale, the chief executive officer now owns 449,242 shares of the company's stock, valued at $45,333,010.22. This trade represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company's stock.
SkyWest Trading Down 0.9%
Shares of SKYW traded down $0.97 during midday trading on Friday, reaching $101.38. The company had a trading volume of 44,859 shares, compared to its average volume of 393,956. SkyWest, Inc. has a 1-year low of $64.61 and a 1-year high of $135.57. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89. The firm has a 50 day simple moving average of $91.92 and a 200-day simple moving average of $100.72. The stock has a market cap of $4.10 billion, a PE ratio of 13.05 and a beta of 1.88.
SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The transportation company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.38. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. The firm had revenue of $948.46 million during the quarter, compared to analysts' expectations of $946.13 million. During the same period last year, the business earned $1.45 earnings per share. SkyWest's revenue was up 18.0% compared to the same quarter last year. Research analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.
SkyWest announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 7th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the transportation company to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.
About SkyWest
(
Free Report)
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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