Schonfeld Strategic Advisors LLC Has $1.16 Million Position in SkyWest, Inc. (NASDAQ:SKYW)

Schonfeld Strategic Advisors LLC raised its position in SkyWest, Inc. (NASDAQ:SKYW) by 34.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,610 shares of the transportation company’s stock after purchasing an additional 2,970 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in SkyWest were worth $1,163,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its holdings in shares of SkyWest by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the transportation company’s stock worth $1,953,000 after acquiring an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in SkyWest by 1.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,495 shares of the transportation company’s stock worth $951,000 after purchasing an additional 100 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in SkyWest by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,145 shares of the transportation company’s stock worth $415,000 after buying an additional 131 shares during the period. Highland Capital Management LLC lifted its stake in SkyWest by 6.1% in the fourth quarter. Highland Capital Management LLC now owns 2,783 shares of the transportation company’s stock valued at $279,000 after buying an additional 160 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of SkyWest by 14.4% in the fourth quarter. GAMMA Investing LLC now owns 1,561 shares of the transportation company’s stock valued at $156,000 after buying an additional 196 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Trading Up 3.1 %

Shares of NASDAQ:SKYW opened at $97.03 on Thursday. The company’s 50-day moving average price is $88.05 and its two-hundred day moving average price is $100.69. SkyWest, Inc. has a one year low of $64.61 and a one year high of $135.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. The stock has a market capitalization of $3.93 billion, a PE ratio of 12.49 and a beta of 1.88.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, April 24th. The transportation company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.38. The business had revenue of $948.46 million for the quarter, compared to analyst estimates of $946.13 million. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. SkyWest’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.45 earnings per share. On average, equities analysts forecast that SkyWest, Inc. will post 9.01 EPS for the current fiscal year.

SkyWest announced that its board has initiated a stock repurchase plan on Wednesday, May 7th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at SkyWest

In other SkyWest news, CFO Robert J. Simmons sold 6,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the sale, the chief financial officer now directly owns 175,067 shares of the company’s stock, valued at approximately $19,882,359.19. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Greg Wooley sold 14,545 shares of SkyWest stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total transaction of $1,537,842.85. Following the completion of the transaction, the vice president now directly owns 68,737 shares of the company’s stock, valued at approximately $7,267,563.01. This trade represents a 17.46 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

SKYW has been the subject of a number of research analyst reports. The Goldman Sachs Group raised shares of SkyWest from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $119.00 to $117.00 in a research note on Tuesday, April 8th. StockNews.com upgraded SkyWest from a “hold” rating to a “buy” rating in a report on Monday. Finally, Raymond James reduced their price target on SkyWest from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd.

SkyWest Company 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.