Renaissance Technologies LLC boosted its position in SkyWest, Inc. (NASDAQ:SKYW – Get Rating) by 164.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 579,968 shares of the transportation company’s stock after buying an additional 361,000 shares during the quarter. Renaissance Technologies LLC owned approximately 1.15% of SkyWest worth $9,430,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Soltis Investment Advisors LLC increased its holdings in shares of SkyWest by 2.3% in the 3rd quarter. Soltis Investment Advisors LLC now owns 39,288 shares of the transportation company’s stock valued at $639,000 after acquiring an additional 871 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of SkyWest by 35.1% during the third quarter. Penserra Capital Management LLC now owns 6,387 shares of the transportation company’s stock worth $103,000 after purchasing an additional 1,660 shares during the period. Cipher Capital LP acquired a new position in shares of SkyWest in the 3rd quarter valued at about $1,134,000. WINTON GROUP Ltd grew its position in shares of SkyWest by 3.5% during the 3rd quarter. WINTON GROUP Ltd now owns 24,094 shares of the transportation company’s stock valued at $392,000 after buying an additional 819 shares during the last quarter. Finally, ExodusPoint Capital Management LP bought a new stake in shares of SkyWest during the 3rd quarter valued at about $3,042,000. Institutional investors and hedge funds own 80.82% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on SKYW shares. TheStreet downgraded SkyWest from a “c” rating to a “d+” rating in a research note on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on SkyWest from $25.00 to $19.00 in a research note on Tuesday, December 20th. Finally, The Goldman Sachs Group started coverage on SkyWest in a research note on Friday, December 16th. They issued a “sell” rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.60.
SkyWest Stock Performance
SkyWest (NASDAQ:SKYW – Get Rating) last issued its earnings results on Thursday, February 2nd. The transportation company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($1.01). SkyWest had a return on equity of 5.12% and a net margin of 2.43%. The company had revenue of $681.30 million during the quarter, compared to analyst estimates of $753.96 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The business’s revenue was down 12.3% compared to the same quarter last year. Analysts forecast that SkyWest, Inc. will post -1.24 earnings per share for the current fiscal year.
Insider Buying and Selling at SkyWest
In other news, Director James L. Welch bought 2,000 shares of the firm’s stock in a transaction on Wednesday, February 8th. The stock was bought at an average cost of $18.95 per share, for a total transaction of $37,900.00. Following the completion of the acquisition, the director now directly owns 55,435 shares in the company, valued at approximately $1,050,493.25. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.
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.
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