U S Global Investors Inc. Purchases 34,587 Shares of SkyWest, Inc. $SKYW

Key Points

• U S Global Investors Inc. boosted its SkyWest stake by 15.5% in the first quarter, adding 34,587 shares and bringing its total to 257,593 shares worth about $23.7 million.
• SkyWest shares were down slightly to $99.72, but the company recently posted better-than-expected quarterly results, with EPS of $2.50 versus the $2.15 estimate and revenue of $1.01 billion.
• Wall Street sentiment remains mixed but constructive: analysts have a Moderate Buy consensus on SKYW, with an average target price of $121.17.

U S Global Investors Inc. increased its position in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 15.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 257,593 shares of the transportation company's stock after acquiring an additional 34,587 shares during the quarter. SkyWest comprises approximately 2.8% of U S Global Investors Inc.'s investment portfolio, making the stock its 8th biggest holding. U S Global Investors Inc. owned about 0.65% of SkyWest worth $23,655,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SKYW. Caitong International Asset Management Co. Ltd raised its holdings in SkyWest by 480.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company's stock worth $26,000 after purchasing an additional 216 shares during the period. Transamerica Financial Advisors LLC grew its holdings in shares of SkyWest by 273.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company's stock valued at $27,000 after buying an additional 197 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of SkyWest in the 3rd quarter valued at $62,000. EverSource Wealth Advisors LLC increased its position in shares of SkyWest by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company's stock valued at $64,000 after buying an additional 339 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in shares of SkyWest in the 4th quarter valued at $83,000. Institutional investors and hedge funds own 81.30% of the company's stock.

SkyWest Stock Down 0.3%

Shares of NASDAQ:SKYW traded down $0.29 during midday trading on Friday, reaching $99.72. 323,862 shares of the company were exchanged, compared to its average volume of 421,739. SkyWest, Inc. has a fifty-two week low of $77.89 and a fifty-two week high of $123.94. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $89.39 and a two-hundred day simple moving average of $94.71. The firm has a market cap of $3.95 billion, a PE ratio of 9.56, a P/E/G ratio of 1.45 and a beta of 1.45.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its earnings results on Thursday, April 23rd. The transportation company reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.35. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $993.06 million. SkyWest had a net margin of 10.42% and a return on equity of 15.55%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 EPS. As a group, sell-side analysts forecast that SkyWest, Inc. will post 10.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SKYW shares. TD Cowen lifted 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. The Goldman Sachs Group downgraded SkyWest from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $126.00 to $115.00 in a report on Thursday, July 2nd. Citigroup raised their price target on SkyWest from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Finally, Weiss Ratings cut SkyWest from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, SkyWest has a consensus rating of "Moderate Buy" and an average target price of $121.17.

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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