Cornercap Investment Counsel Inc. Has $551,000 Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

Cornercap Investment Counsel Inc. lessened its stake in SkyWest, Inc. (NASDAQ:SKYW) by 49.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,484 shares of the transportation company’s stock after selling 6,240 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in SkyWest were worth $551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd acquired a new stake in SkyWest in the 1st quarter valued at about $520,000. Boston Partners acquired a new stake in SkyWest in the 1st quarter valued at about $1,275,000. Nicholas Investment Partners LP increased its position in SkyWest by 82.9% in the 2nd quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock valued at $15,451,000 after acquiring an additional 85,356 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of SkyWest in the 2nd quarter valued at about $520,000. Finally, Victory Capital Management Inc. boosted its stake in shares of SkyWest by 90.2% in the 2nd quarter. Victory Capital Management Inc. now owns 551,060 shares of the transportation company’s stock valued at $45,225,000 after purchasing an additional 261,349 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Stock Up 0.5 %

SkyWest stock opened at $111.33 on Friday. The company’s 50 day simple moving average is $91.70 and its 200 day simple moving average is $82.51. SkyWest, Inc. has a fifty-two week low of $44.71 and a fifty-two week high of $116.47. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 19.03 and a beta of 1.93. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.24. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The business had revenue of $912.79 million for the quarter, compared to analyst estimates of $896.21 million. During the same quarter last year, the firm earned $0.55 EPS. SkyWest’s quarterly revenue was up 19.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that SkyWest, Inc. will post 7.16 EPS for the current year.

Analysts Set New Price Targets

SKYW has been the topic of several recent research reports. Raymond James raised their target price on shares of SkyWest from $100.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a research note on Friday. Finally, TD Cowen raised their target price on shares of SkyWest from $95.00 to $120.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $105.75.

Insiders Place Their Bets

In other SkyWest news, insider Wade J. Steel sold 19,079 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 97,654 shares in the company, valued at approximately $10,202,889.92. This trade represents a 16.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert J. Simmons sold 16,485 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $105.02, for a total transaction of $1,731,254.70. Following the sale, the chief financial officer now owns 113,539 shares in the company, valued at $11,923,865.78. This trade represents a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,467 shares of company stock worth $10,082,596. Company insiders own 2.00% of the company’s stock.

SkyWest 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.