Shelton Capital Management Takes Position in SkyWest, Inc. (SKYW)
Shelton Capital Management acquired a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,968 shares of the transportation company’s stock, valued at approximately $218,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. lifted its position in SkyWest by 87.0% in the third quarter. Victory Capital Management Inc. now owns 1,420,063 shares of the transportation company’s stock worth $62,340,000 after purchasing an additional 660,859 shares during the period. RWC Asset Management LLP lifted its position in SkyWest by 82.1% in the third quarter. RWC Asset Management LLP now owns 300,000 shares of the transportation company’s stock worth $13,170,000 after purchasing an additional 135,211 shares during the period. LSV Asset Management lifted its position in SkyWest by 16.2% in the second quarter. LSV Asset Management now owns 966,937 shares of the transportation company’s stock worth $33,939,000 after purchasing an additional 134,600 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its position in SkyWest by 121.1% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 220,430 shares of the transportation company’s stock worth $9,677,000 after purchasing an additional 120,740 shares during the period. Finally, Renaissance Technologies LLC lifted its position in SkyWest by 10.0% in the second quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the transportation company’s stock worth $45,479,000 after purchasing an additional 117,700 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.
In other news, COO Terry Vais sold 12,075 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $51.52, for a total transaction of $622,104.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael B. Thompson sold 1,476 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $51.45, for a total value of $75,940.20. The disclosure for this sale can be found here. Insiders have sold a total of 154,239 shares of company stock valued at $7,512,577 in the last quarter. Insiders own 3.50% of the company’s stock.
Shares of SkyWest, Inc. (NASDAQ:SKYW) opened at $52.65 on Monday. SkyWest, Inc. has a 52-week low of $30.40 and a 52-week high of $54.17. The company has a market capitalization of $2,729.53, a price-to-earnings ratio of 16.71 and a beta of 1.77. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.09 and a current ratio of 1.24.
SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.03. SkyWest had a positive return on equity of 11.87% and a negative net margin of 4.15%. The company had revenue of $831.93 million during the quarter, compared to the consensus estimate of $817.43 million. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. sell-side analysts forecast that SkyWest, Inc. will post 3.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 29th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.61%. SkyWest’s dividend payout ratio (DPR) is presently -12.26%.
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.
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