Harvest Fund Management Co. Ltd Has $147,000 Position in SkyWest, Inc. (NASDAQ:SKYW)

Harvest Fund Management Co. Ltd decreased its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 87.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,726 shares of the transportation company’s stock after selling 11,989 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in SkyWest were worth $147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co lifted its stake in shares of SkyWest by 4.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 34,403 shares of the transportation company’s stock worth $2,375,000 after buying an additional 1,414 shares during the last quarter. Lazard Asset Management LLC lifted its position in SkyWest by 81.6% during the first quarter. Lazard Asset Management LLC now owns 1,678 shares of the transportation company’s stock worth $115,000 after acquiring an additional 754 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of SkyWest by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,717 shares of the transportation company’s stock worth $1,846,000 after acquiring an additional 1,559 shares during the period. Cetera Investment Advisers bought a new stake in shares of SkyWest during the first quarter worth approximately $1,853,000. Finally, Boston Partners bought a new position in shares of SkyWest during the first quarter worth approximately $1,275,000. 81.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on SKYW shares. Raymond James boosted their price target on 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 reissued a “neutral” rating and issued a $119.00 target price on shares of SkyWest in a research report on Friday, November 15th. Finally, TD Cowen raised their price target on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Insider Activity at SkyWest

In other news, CAO Eric Woodward sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was 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 owns 44,426 shares of the company’s stock, valued at approximately $4,954,831.78. The trade was a 8.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald J. Mittelstaedt sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $112.06, for a total value of $2,801,500.00. Following the transaction, the director now directly owns 11,283 shares of the company’s stock, valued at approximately $1,264,372.98. The trade was a 68.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,467 shares of company stock valued at $10,082,596 over the last three months. 2.50% of the stock is owned by insiders.

SkyWest Stock Performance

SKYW opened at $113.96 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.86. SkyWest, Inc. has a 52-week low of $45.42 and a 52-week high of $117.51. The firm has a market cap of $4.60 billion, a P/E ratio of 19.68 and a beta of 1.93. The business’s fifty day moving average is $96.55 and its 200-day moving average is $84.36.

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

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.