SkyWest, Inc. (NASDAQ:SKYW) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC raised its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 170.6% during the fourth quarter, HoldingsChannel reports. The fund owned 18,604 shares of the transportation company’s stock after acquiring an additional 11,730 shares during the quarter. AlphaQuest LLC’s holdings in SkyWest were worth $1,863,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of SkyWest in the 3rd quarter valued at about $31,000. Private Trust Co. NA increased its holdings in SkyWest by 157.1% in the fourth quarter. Private Trust Co. NA now owns 491 shares of the transportation company’s stock valued at $49,000 after buying an additional 300 shares during the last quarter. Sound Income Strategies LLC bought a new stake in SkyWest in the fourth quarter valued at about $50,000. Jones Financial Companies Lllp raised its stake in SkyWest by 117.2% during the fourth quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company’s stock valued at $83,000 after buying an additional 449 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in SkyWest by 193.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company’s stock worth $87,000 after buying an additional 569 shares during the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SkyWest

In related news, VP Greg Wooley sold 14,545 shares of SkyWest stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total value of $1,537,842.85. Following the sale, the vice president now directly owns 68,737 shares in the company, valued at $7,267,563.01. This trade represents a 17.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert J. Simmons sold 6,000 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the transaction, the chief financial officer now directly owns 175,067 shares of the company’s stock, valued at $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

SkyWest Stock Performance

Shares of SKYW stock opened at $88.07 on Friday. The company has a market cap of $3.55 billion, a P/E ratio of 11.33 and a beta of 2.00. The business has a 50 day moving average of $107.05 and a two-hundred day moving average of $99.08. SkyWest, Inc. has a 52 week low of $64.30 and a 52 week high of $135.57. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.59. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. During the same quarter last year, the company posted $0.42 earnings per share. As a group, analysts anticipate that SkyWest, Inc. will post 9.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SKYW. Raymond James reiterated an “outperform” rating and issued a $130.00 price target (up from $120.00) on shares of SkyWest in a report on Friday, January 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th.

About SkyWest

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.