Nicholas Investment Partners LP Cuts Holdings in SkyWest, Inc. $SKYW

Nicholas Investment Partners LP lessened its stake in SkyWest, Inc. (NASDAQ:SKYW) by 11.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 115,087 shares of the transportation company’s stock after selling 14,405 shares during the quarter. Nicholas Investment Partners LP’s holdings in SkyWest were worth $11,556,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Transamerica Financial Advisors LLC boosted its stake in shares of SkyWest by 273.6% in the 4th quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 197 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of SkyWest in the 3rd quarter valued at $62,000. EverSource Wealth Advisors LLC boosted its stake in shares of SkyWest by 118.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 339 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of SkyWest in the 4th quarter valued at $83,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of SkyWest by 15.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,037 shares of the transportation company’s stock valued at $105,000 after purchasing an additional 140 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors.

SkyWest Trading Up 2.3%

NASDAQ:SKYW opened at $91.75 on Friday. The company has a fifty day moving average of $87.77 and a 200 day moving average of $95.60. SkyWest, Inc. has a 52 week low of $77.89 and a 52 week high of $123.94. The company has a quick ratio of 0.51, a current ratio of 0.62 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $3.64 billion, a P/E ratio of 8.80, a P/E/G ratio of 1.32 and a beta of 1.47.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, April 23rd. The transportation company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.35. SkyWest had a net margin of 10.42% and a return on equity of 15.55%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $993.06 million. During the same period in the prior year, the business posted $2.42 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, research analysts predict that SkyWest, Inc. will post 10.69 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SKYW shares. Citigroup cut their price objective on shares of SkyWest from $101.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th. Weiss Ratings cut shares of SkyWest from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 4th. Finally, TD Cowen cut their price objective on shares of SkyWest from $106.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, SkyWest currently has an average rating of “Moderate Buy” and a consensus target price of $117.00.

SkyWest 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.