SkyWest, Inc. (NASDAQ:SKYW) Stock Position Reduced by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC trimmed its stake in SkyWest, Inc. (NASDAQ:SKYWFree Report) by 12.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,655 shares of the transportation company’s stock after selling 4,962 shares during the quarter. Soltis Investment Advisors LLC owned approximately 0.08% of SkyWest worth $1,411,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cerity Partners LLC acquired a new position in shares of SkyWest in the 1st quarter worth $342,000. Roffman Miller Associates Inc. PA acquired a new position in shares of SkyWest in the 2nd quarter worth $34,000. Harvest Fund Management Co. Ltd grew its holdings in shares of SkyWest by 2,109.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,392 shares of the transportation company’s stock worth $58,000 after acquiring an additional 1,329 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of SkyWest by 14.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,851 shares of the transportation company’s stock worth $120,000 after acquiring an additional 362 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of SkyWest by 35.0% in the 3rd quarter. UBS Group AG now owns 3,199 shares of the transportation company’s stock worth $53,000 after acquiring an additional 829 shares during the last quarter. 79.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SKYW. StockNews.com upgraded SkyWest from a “hold” rating to a “buy” rating in a report on Monday. TheStreet upgraded SkyWest from a “c” rating to a “b-” rating in a report on Friday. TD Cowen upgraded SkyWest from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $68.00 in a report on Monday. Finally, Raymond James lifted their price target on SkyWest from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Read Our Latest Stock Report on SkyWest

SkyWest Price Performance

SKYW opened at $59.62 on Tuesday. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 68.53 and a beta of 1.92. SkyWest, Inc. has a 1 year low of $17.84 and a 1 year high of $60.40. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.21. The stock has a fifty day moving average price of $50.90 and a 200 day moving average price of $45.31.

SkyWest (NASDAQ:SKYWGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.31. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The company had revenue of $751.80 million during the quarter, compared to analysts’ expectations of $758.41 million. During the same quarter in the previous year, the firm earned ($0.93) earnings per share. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts forecast that SkyWest, Inc. will post 5.06 EPS for the current fiscal year.

SkyWest Company Profile

(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.

See Also

Want to see what other hedge funds are holding SKYW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SkyWest, Inc. (NASDAQ:SKYWFree Report).

Institutional Ownership by Quarter for SkyWest (NASDAQ:SKYW)

Receive News & Ratings for SkyWest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SkyWest and related companies with MarketBeat.com's FREE daily email newsletter.