SkyWest, Inc. $SKYW Shares Bought by Sei Investments Co.

Sei Investments Co. grew its stake in shares of SkyWest, Inc. (NASDAQ:SKYW) by 32.2% in the 1st quarter, Holdings Channel reports. The firm owned 77,706 shares of the transportation company’s stock after acquiring an additional 18,926 shares during the quarter. Sei Investments Co.’s holdings in SkyWest were worth $7,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SKYW. Caitong International Asset Management Co. Ltd lifted its holdings in shares of SkyWest by 480.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company’s stock worth $26,000 after purchasing an additional 216 shares during the last quarter. Transamerica Financial Advisors LLC increased its position in SkyWest by 273.6% in 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 period. Johnson Financial Group Inc. acquired a new stake in SkyWest in the third quarter worth $62,000. EverSource Wealth Advisors LLC lifted its stake in SkyWest by 118.5% in the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after buying an additional 339 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in SkyWest in the fourth quarter valued at $83,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Russell A. Childs sold 50,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $113.21, for a total transaction of $5,717,105.00. Following the sale, the chief executive officer owned 346,190 shares of the company’s stock, valued at $39,192,169.90. The trade was a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Greg Wooley sold 17,726 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $108.55, for a total value of $1,924,157.30. Following the completion of the sale, the vice president owned 53,323 shares of the company’s stock, valued at $5,788,211.65. This trade represents a 24.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 93,226 shares of company stock worth $10,403,512. 1.50% of the stock is owned by corporate insiders.

SkyWest Price Performance

Shares of SKYW opened at $106.97 on Monday. SkyWest, Inc. has a one year low of $77.89 and a one year high of $123.94. The stock’s fifty day moving average is $94.74 and its 200-day moving average is $94.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.46 and a current ratio of 0.57. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 1.53 and a beta of 1.45.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, July 23rd. The transportation company reported $2.54 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.16). The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. SkyWest had a return on equity of 14.58% and a net margin of 9.78%.The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.91 EPS. Equities analysts anticipate that SkyWest, Inc. will post 10.69 EPS for the current year.

SkyWest announced that its board has approved a share buyback program on Thursday, July 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SKYW. The Goldman Sachs Group downgraded shares of SkyWest from a “buy” rating to a “neutral” rating and reduced their price target for the company from $126.00 to $115.00 in a report on Thursday, July 2nd. TD Cowen increased their price objective on shares of SkyWest from $98.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Citigroup lifted their price objective on shares of SkyWest from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Finally, Weiss Ratings raised shares of SkyWest from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.40.

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.