Picton Mahoney Asset Management Boosts Stock Holdings in SkyWest, Inc. (NASDAQ:SKYW)

Picton Mahoney Asset Management grew its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 16.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,224 shares of the transportation company’s stock after buying an additional 736 shares during the period. Picton Mahoney Asset Management’s holdings in SkyWest were worth $524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SKYW. GSA Capital Partners LLP purchased a new stake in SkyWest during the third quarter valued at about $371,000. Royce & Associates LP grew its holdings in shares of SkyWest by 123.0% during the 3rd quarter. Royce & Associates LP now owns 15,571 shares of the transportation company’s stock worth $1,324,000 after purchasing an additional 8,587 shares during the period. Intech Investment Management LLC increased its position in SkyWest by 56.3% during the 3rd quarter. Intech Investment Management LLC now owns 18,832 shares of the transportation company’s stock worth $1,601,000 after purchasing an additional 6,781 shares in the last quarter. Massachusetts Financial Services Co. MA raised 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 buying an additional 2,785 shares during the period. Finally, Navellier & Associates Inc. acquired a new position in SkyWest during the third quarter valued at approximately $1,046,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

SkyWest Stock Performance

Shares of NASDAQ:SKYW opened at $87.33 on Monday. The business’s 50-day simple moving average is $105.32 and its 200 day simple moving average is $99.55. The company has a market cap of $3.52 billion, a P/E ratio of 11.24 and a beta of 2.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.68 and a current ratio of 0.78. SkyWest, Inc. has a one year low of $64.30 and a one year high of $135.57.

SkyWest (NASDAQ:SKYW) last posted 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 net margin of 9.15% and a return on equity of 14.17%. During the same quarter last year, the company earned $0.42 EPS. On average, sell-side analysts forecast that SkyWest, Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert J. Simmons sold 6,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $113.57, for a total value of $681,420.00. Following the transaction, the chief financial officer now owns 175,067 shares in the company, valued at approximately $19,882,359.19. The trade was a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Greg Wooley sold 14,545 shares of the firm’s stock in a transaction that occurred on 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 owns 68,737 shares of the company’s stock, valued at approximately $7,267,563.01. This trade represents a 17.46 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.