Prudential Financial Inc. Has $19.26 Million Position in SkyWest, Inc. (SKYW)
Prudential Financial Inc. reduced its position in SkyWest, Inc. (NASDAQ:SKYW) by 8.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 548,563 shares of the transportation company’s stock after selling 52,284 shares during the period. Prudential Financial Inc. owned about 1.06% of SkyWest worth $19,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its stake in shares of SkyWest by 1.9% in the 2nd quarter. Victory Capital Management Inc. now owns 759,204 shares of the transportation company’s stock valued at $26,648,000 after purchasing an additional 14,217 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of SkyWest in the 2nd quarter valued at $3,976,000. BNP Paribas Arbitrage SA lifted its stake in shares of SkyWest by 55.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 21,649 shares of the transportation company’s stock valued at $760,000 after purchasing an additional 7,712 shares during the period. Legal & General Group Plc lifted its stake in shares of SkyWest by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 93,386 shares of the transportation company’s stock valued at $3,277,000 after purchasing an additional 7,821 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of SkyWest by 1.5% in the 2nd quarter. SG Americas Securities LLC now owns 9,262 shares of the transportation company’s stock valued at $325,000 after purchasing an additional 133 shares during the period. Hedge funds and other institutional investors own 89.44% of the company’s stock.
SkyWest, Inc. (NASDAQ SKYW) opened at 36.00 on Thursday. SkyWest, Inc. has a 52-week low of $25.04 and a 52-week high of $39.85. The firm’s 50-day moving average is $35.90 and its 200-day moving average is $35.48. The firm’s market capitalization is $1.87 billion.
SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The firm had revenue of $809.76 million for 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%. SkyWest’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 EPS. On average, analysts anticipate that SkyWest, Inc. will post $3.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 29th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, September 28th. SkyWest’s dividend payout ratio (DPR) is presently -11.31%.
A number of equities analysts have weighed in on the stock. Cowen and Company upped their price objective on shares of SkyWest from $40.00 to $44.00 and gave the stock an “outperform” rating in a research report on Thursday, August 10th. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 29th. TheStreet upgraded shares of SkyWest from a “c+” rating to a “b-” rating in a research report on Monday, May 22nd. Finally, BidaskClub cut shares of SkyWest from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. SkyWest currently 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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