EntryPoint Capital LLC Purchases New Position in SkyWest, Inc. (NASDAQ:SKYW)

EntryPoint Capital LLC acquired a new position in SkyWest, Inc. (NASDAQ:SKYW) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,598 shares of the transportation company’s stock, valued at approximately $360,000.

Several other hedge funds have also recently made changes to their positions in SKYW. Massachusetts Financial Services Co. MA boosted its holdings in SkyWest by 5.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 52,163 shares of the transportation company’s stock valued at $4,435,000 after acquiring an additional 2,785 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of SkyWest by 12.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,794 shares of the transportation company’s stock valued at $58,051,000 after purchasing an additional 76,007 shares in the last quarter. Citigroup Inc. increased its position in shares of SkyWest by 50.8% during the third quarter. Citigroup Inc. now owns 61,565 shares of the transportation company’s stock valued at $5,234,000 after buying an additional 20,752 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in SkyWest in the third quarter worth about $758,000. Finally, FMR LLC lifted its holdings in SkyWest by 42.2% in the third quarter. FMR LLC now owns 484,147 shares of the transportation company’s stock worth $41,162,000 after buying an additional 143,661 shares during the period. 81.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James reissued an “outperform” rating and issued a $130.00 target price (up previously from $120.00) on shares of SkyWest in a research report on Friday, January 31st.

SkyWest Trading Down 0.9 %

NASDAQ:SKYW opened at $93.32 on Thursday. The firm has a market capitalization of $3.76 billion, a P/E ratio of 12.01 and a beta of 2.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. SkyWest, Inc. has a one year low of $64.61 and a one year high of $135.57. The company’s 50-day simple moving average is $102.44 and its 200 day simple moving average is $100.24.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, January 30th. The transportation company reported $2.34 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $0.42 EPS. As a group, analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

Insider Activity

In other SkyWest news, CFO Robert J. Simmons sold 6,000 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 175,067 shares in the company, valued at approximately $19,882,359.19. This trade represents a 3.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Greg Wooley sold 14,545 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the completion of the transaction, the vice president now owns 68,737 shares in the company, valued at approximately $7,267,563.01. This represents a 17.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.