GAMMA Investing LLC Makes New Investment in SkyWest, Inc. (NASDAQ:SKYW)

GAMMA Investing LLC bought a new position in SkyWest, Inc. (NASDAQ:SKYW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 547 shares of the transportation company’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SKYW. Strs Ohio bought a new position in SkyWest in the 4th quarter worth approximately $36,000. Salem Investment Counselors Inc. bought a new position in shares of SkyWest in the fourth quarter worth $57,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of SkyWest by 2,109.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,392 shares of the transportation company’s stock worth $58,000 after acquiring an additional 1,329 shares during the period. Headlands Technologies LLC purchased a new position in shares of SkyWest in the third quarter valued at $59,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of SkyWest during the 4th quarter valued at $60,000. Institutional investors own 81.30% of the company’s stock.

SkyWest Price Performance

SKYW stock opened at $76.99 on Tuesday. The firm has a 50 day simple moving average of $68.74 and a two-hundred day simple moving average of $56.69. The stock has a market cap of $3.10 billion, a PE ratio of 27.79 and a beta of 1.89. SkyWest, Inc. has a one year low of $25.79 and a one year high of $79.21. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.81 and a quick ratio of 0.72.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.21. The company had revenue of $804.00 million during the quarter, compared to the consensus estimate of $800.07 million. SkyWest had a net margin of 3.83% and a return on equity of 5.45%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.45) EPS. On average, analysts predict that SkyWest, Inc. will post 6.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James L. Welch sold 2,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $66.72, for a total transaction of $133,440.00. Following the transaction, the director now directly owns 56,067 shares in the company, valued at approximately $3,740,790.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

SKYW has been the subject of several analyst reports. Raymond James raised their target price on SkyWest from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. StockNews.com raised shares of SkyWest from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. TD Cowen upgraded shares of SkyWest from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $68.00 in a research note on Monday, February 5th. Evercore ISI raised their price target on shares of SkyWest from $60.00 to $70.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, TheStreet raised shares of SkyWest from a “c” rating to a “b-” rating in a report on Friday, February 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, SkyWest currently has an average rating of “Moderate Buy” and a consensus target price of $62.25.

SkyWest Profile

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.