ClariVest Asset Management LLC Buys 53,400 Shares of SkyWest, Inc. (NASDAQ:SKYW)
ClariVest Asset Management LLC increased its position in SkyWest, Inc. (NASDAQ:SKYW) by 28.9% during the second quarter, Holdings Channel reports. The firm owned 238,418 shares of the transportation company’s stock after buying an additional 53,400 shares during the period. ClariVest Asset Management LLC’s holdings in SkyWest were worth $8,369,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of SKYW. 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 period. 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. acquired a new stake in shares of SkyWest during the first quarter worth about $138,000. State of Alaska Department of Revenue increased 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 last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of SkyWest during the first quarter worth about $202,000. 90.32% of the stock is owned by institutional investors and hedge funds.
Shares of SkyWest, Inc. (NASDAQ:SKYW) opened at 36.70 on Monday. The company’s 50 day moving average price is $36.62 and its 200-day moving average price is $35.58. SkyWest, Inc. has a 12 month low of $25.04 and a 12 month high of $39.85. The firm’s market capitalization is $1.90 billion.
SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 27th. The transportation company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.08. The firm had revenue of $809.76 million during the quarter, compared to analyst estimates of $790.14 million. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. On average, equities analysts predict that SkyWest, Inc. will post $3.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 29th will be paid a $0.08 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.32 annualized dividend and a yield of 0.87%. SkyWest’s payout ratio is currently -11.31%.
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A number of analysts recently issued reports on the company. Cowen and Company raised their price objective on SkyWest from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday. BidaskClub downgraded SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. TheStreet raised SkyWest from a “c+” rating to a “b-” rating in a research report on Monday, May 22nd. Finally, Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. SkyWest has a consensus rating of “Buy” and an average target price of $41.67.
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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