Y Intercept Hong Kong Ltd Decreases Stock Position in SkyWest, Inc. $SKYW

Key Points

• Y Intercept Hong Kong Ltd cut its SkyWest stake by 53.9% in the first quarter, selling 12,387 shares and leaving it with 10,613 shares valued at about $975,000.
• SkyWest shares were down slightly to $99.72, while institutional ownership remained high at 81.30%, with several other funds modestly increasing their positions.
• The company recently posted better-than-expected earnings, reporting $2.50 EPS versus $2.15 expected and revenue of $1.01 billion, though analysts are mixed after Goldman Sachs downgraded the stock while TD Cowen and Citigroup raised targets.

Y Intercept Hong Kong Ltd trimmed its stake in shares of SkyWest, Inc. (NASDAQ:SKYW - Free Report) by 53.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,613 shares of the transportation company's stock after selling 12,387 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in SkyWest were worth $975,000 at the end of the most recent quarter.

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

SkyWest Stock Down 0.3%

SKYW stock traded down $0.29 during trading on Friday, hitting $99.72. 323,862 shares of the company's stock were exchanged, compared to its average volume of 421,739. The business has a 50-day moving average price of $89.39 and a two-hundred day moving average price of $94.71. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 1.45 and a beta of 1.45. SkyWest, Inc. has a 52-week low of $77.89 and a 52-week high of $123.94.

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

Wall Street Analysts Forecast Growth

SKYW has been the subject of several analyst reports. The Goldman Sachs Group cut shares of 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. Weiss Ratings cut shares of SkyWest from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 4th. TD Cowen boosted their target price on shares of SkyWest from $98.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Finally, Citigroup boosted their target price on shares of SkyWest from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, SkyWest presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.

SkyWest Company 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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