Empowered Funds LLC Buys 219 Shares of SkyWest, Inc. (NASDAQ:SKYW)

Empowered Funds LLC raised its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 0.1% during the third quarter, HoldingsChannel reports. The fund owned 173,254 shares of the transportation company’s stock after acquiring an additional 219 shares during the quarter. Empowered Funds LLC’s holdings in SkyWest were worth $14,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. increased its holdings in shares of SkyWest by 1,368.0% in the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 342 shares during the period. Kings Path Partners LLC bought a new stake in SkyWest during the second quarter valued at about $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in SkyWest in the second quarter valued at about $54,000. CWM LLC raised its holdings in SkyWest by 57.3% in the second quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after purchasing an additional 279 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of SkyWest by 45.9% during the second quarter. GAMMA Investing LLC now owns 928 shares of the transportation company’s stock valued at $76,000 after buying an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

Insider Buying and Selling

In other news, CAO Eric Woodward sold 4,000 shares of SkyWest stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $111.53, for a total transaction of $446,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 44,426 shares of the company’s stock, valued at $4,954,831.78. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wade J. Steel sold 19,079 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total transaction of $1,993,373.92. Following the completion of the transaction, the insider now owns 97,654 shares of the company’s stock, valued at approximately $10,202,889.92. This represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,467 shares of company stock worth $10,082,596. 2.00% of the stock is owned by company insiders.

SkyWest Price Performance

Shares of SKYW opened at $112.28 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76. The company’s fifty day moving average price is $90.28 and its 200-day moving average price is $82.06. SkyWest, Inc. has a 1-year low of $44.71 and a 1-year high of $116.47. The firm has a market capitalization of $4.53 billion, a PE ratio of 18.94 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.24. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business had revenue of $912.79 million for the quarter, compared to the consensus estimate of $896.21 million. During the same quarter in the previous year, the business earned $0.55 EPS. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, equities research analysts predict that SkyWest, Inc. will post 7.16 EPS for the current year.

Analyst Ratings Changes

SKYW has been the subject of several recent analyst reports. Raymond James boosted their price objective on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. The Goldman Sachs Group reiterated a “neutral” rating and set a $119.00 price objective on shares of SkyWest in a report on Friday. Finally, TD Cowen boosted their target price on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.75.

SkyWest Company 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.