Maryland State Retirement & Pension System Has $584,000 Position in SkyWest, Inc. $SKYW

Maryland State Retirement & Pension System lessened its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 51.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,805 shares of the transportation company’s stock after selling 6,088 shares during the period. Maryland State Retirement & Pension System’s holdings in SkyWest were worth $584,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Owl Creek Asset Management L.P. bought a new position in shares of SkyWest during the 2nd quarter valued at $9,856,000. JPMorgan Chase & Co. increased its position in SkyWest by 60.0% during the second quarter. JPMorgan Chase & Co. now owns 214,550 shares of the transportation company’s stock worth $22,092,000 after buying an additional 80,486 shares during the last quarter. Qube Research & Technologies Ltd increased its position in SkyWest by 40.3% during the second quarter. Qube Research & Technologies Ltd now owns 255,251 shares of the transportation company’s stock worth $26,283,000 after buying an additional 73,374 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in SkyWest by 379.9% during the second quarter. Allianz Asset Management GmbH now owns 80,056 shares of the transportation company’s stock valued at $8,243,000 after buying an additional 63,375 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of SkyWest in the second quarter worth about $6,495,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SkyWest

In other news, Director Meredith Siegfried Madden sold 4,725 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $106.54, for a total transaction of $503,401.50. Following the transaction, the director owned 25,362 shares in the company, valued at approximately $2,702,067.48. The trade was a 15.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.

SkyWest Stock Up 2.0%

Shares of SKYW stock opened at $104.02 on Friday. SkyWest, Inc. has a 12 month low of $74.70 and a 12 month high of $135.57. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. The firm has a market cap of $4.17 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.70 and a beta of 1.66. The stock has a 50 day moving average of $100.66 and a 200-day moving average of $105.31.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, October 30th. The transportation company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.25. SkyWest had a net margin of 10.92% and a return on equity of 17.14%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company posted $2.16 earnings per share. SkyWest’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

Analyst Ratings Changes

SKYW has been the subject of several recent analyst reports. Raymond James Financial upgraded SkyWest from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of SkyWest in a research report on Wednesday, October 8th. Wall Street Zen downgraded SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Citigroup began coverage on shares of SkyWest in a research note on Thursday, December 4th. They issued a “neutral” rating and a $112.00 price objective for the company. Finally, Zacks Research downgraded shares of SkyWest from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, SkyWest has a consensus rating of “Moderate Buy” and a consensus price target of $127.17.

About SkyWest

SkyWest, Inc (NASDAQ: SKYW) is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.