Meeder Asset Management Inc. Trims Holdings in SkyWest, Inc. $SKYW

Meeder Asset Management Inc. lowered its holdings in shares of SkyWest, Inc. (NASDAQ:SKYW) by 81.9% in the first quarter, Holdings Channel reports. The firm owned 7,071 shares of the transportation company’s stock after selling 32,038 shares during the quarter. Meeder Asset Management Inc.’s holdings in SkyWest were worth $649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of SkyWest by 480.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock valued at $26,000 after buying an additional 216 shares during the last quarter. Transamerica Financial Advisors LLC grew its holdings in shares of SkyWest by 273.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock worth $27,000 after buying an additional 197 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of SkyWest during the third quarter worth about $62,000. EverSource Wealth Advisors LLC grew its holdings in shares of SkyWest by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock worth $64,000 after buying an additional 339 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in SkyWest in the 4th quarter valued at about $83,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

SkyWest Stock Performance

NASDAQ SKYW opened at $99.34 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.51 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $90.91 and its two-hundred day moving average is $94.49. SkyWest, Inc. has a 12-month low of $77.89 and a 12-month high of $123.94. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 1.41 and a beta of 1.45.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, April 23rd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.35. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $993.06 million. SkyWest had a return on equity of 15.55% and a net margin of 10.42%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 EPS. Research analysts expect that SkyWest, Inc. will post 10.58 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on SKYW. Citigroup increased their price objective on SkyWest from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. The Goldman Sachs Group lowered SkyWest from a “buy” rating to a “neutral” rating and dropped their target price for the company from $126.00 to $115.00 in a report on Thursday, July 2nd. TD Cowen upped their price target on SkyWest from $98.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings upgraded SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.17.

SkyWest Company Profile

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.