278,212 Shares in SkyWest, Inc. (NASDAQ:SKYW) Acquired by SG Capital Management LLC
SG Capital Management LLC acquired a new position in SkyWest, Inc. (NASDAQ:SKYW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 278,212 shares of the transportation company’s stock, valued at approximately $9,765,000. SkyWest accounts for approximately 1.7% of SG Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. SG Capital Management LLC owned approximately 0.54% of SkyWest as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Flinton Capital Management LLC increased its stake in shares of SkyWest by 3.3% in the first quarter. Flinton Capital Management LLC now owns 3,162 shares of the transportation company’s stock worth $108,000 after buying an additional 102 shares during the last quarter. Bank of Montreal Can increased its stake in shares of SkyWest by 10.0% in the first quarter. Bank of Montreal Can now owns 3,675 shares of the transportation company’s stock worth $126,000 after buying an additional 334 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of SkyWest during the first quarter worth approximately $138,000. State of Alaska Department of Revenue boosted its stake in shares of SkyWest by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 5,720 shares of the transportation company’s stock worth $195,000 after buying an additional 140 shares during the period. Finally, Laurion Capital Management LP purchased a new stake in shares of SkyWest during the first quarter worth approximately $202,000. Institutional investors own 90.84% of the company’s stock.
SkyWest, Inc. (NASDAQ:SKYW) traded down 4.05% during mid-day trading on Friday, hitting $36.70. The company had a trading volume of 457,239 shares. The firm’s 50 day moving average is $36.62 and its 200 day moving average is $35.58. The company’s market capitalization is $1.90 billion. SkyWest, Inc. has a 52 week low of $25.04 and a 52 week high of $39.85.
SkyWest (NASDAQ:SKYW) last posted its earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. The business had revenue of $809.76 million for the quarter, compared to analyst estimates of $790.14 million. During the same period in the prior year, the company posted $0.77 EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts predict that SkyWest, Inc. will post $3.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, September 28th. SkyWest’s payout ratio is currently -11.31%.
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A number of equities research analysts have commented on SKYW shares. ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday, May 2nd. BidaskClub cut SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Cowen and Company reissued an “outperform” rating and issued a $44.00 price objective (up previously from $40.00) on shares of SkyWest in a research report on Monday, August 7th. Finally, TheStreet upgraded SkyWest from a “c+” rating to a “b-” rating in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.67.
SkyWest Company Profile
SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.
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