Migdal Insurance & Financial Holdings Ltd. Makes New Investment in SkyWest, Inc. (NASDAQ:SKYW)

Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of SkyWest, Inc. (NASDAQ:SKYW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,135 shares of the transportation company’s stock, valued at approximately $60,000.

Several other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. increased its stake in shares of SkyWest by 16.4% in the third quarter. American Century Companies Inc. now owns 721,053 shares of the transportation company’s stock valued at $30,241,000 after buying an additional 101,459 shares during the period. Seven Eight Capital LP acquired a new position in shares of SkyWest in the third quarter valued at approximately $833,000. Illinois Municipal Retirement Fund acquired a new position in shares of SkyWest in the third quarter valued at approximately $1,115,000. Capula Management Ltd acquired a new position in shares of SkyWest in the third quarter valued at approximately $1,058,000. Finally, EP Wealth Advisors LLC increased its stake in shares of SkyWest by 5,203.4% in the third quarter. EP Wealth Advisors LLC now owns 256,631 shares of the transportation company’s stock valued at $10,763,000 after buying an additional 251,792 shares during the period. Institutional investors and hedge funds own 81.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SKYW shares. Evercore ISI upped their price objective on SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. TheStreet raised SkyWest from a “c” rating to a “b-” rating in a research note on Friday, February 2nd. StockNews.com upgraded SkyWest from a “hold” rating to a “buy” rating in a report on Monday, February 5th. TD Cowen upgraded SkyWest from a “market perform” rating to an “outperform” rating and upped their target price for the company from $55.00 to $68.00 in a report on Monday, February 5th. Finally, Raymond James upped their target price on SkyWest from $55.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.25.

Insiders Place Their Bets

In other SkyWest news, Director James L. Welch sold 2,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.72, for a total transaction of $133,440.00. Following the transaction, the director now directly owns 56,067 shares in the company, valued at approximately $3,740,790.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.00% of the company’s stock.

SkyWest Stock Performance

Shares of SKYW stock opened at $68.03 on Friday. The business’s 50 day simple moving average is $65.47 and its 200 day simple moving average is $53.70. SkyWest, Inc. has a one year low of $23.37 and a one year high of $71.15. The stock has a market capitalization of $2.75 billion, a PE ratio of 78.20 and a beta of 1.95. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.80.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.31. The firm had revenue of $751.80 million for the quarter, compared to analysts’ expectations of $758.41 million. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.93) EPS. As a group, research analysts forecast that SkyWest, Inc. will post 6.45 earnings per share for the current year.

SkyWest 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.