SkyWest, Inc. (NASDAQ:SKYW) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,057 shares of the transportation company’s stock after buying an additional 193 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SkyWest were worth $1,608,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new stake in SkyWest during the fourth quarter worth approximately $39,000. Headlands Technologies LLC acquired a new stake in shares of SkyWest in the 4th quarter valued at about $45,000. Private Trust Co. NA boosted its holdings in SkyWest by 157.1% in the fourth quarter. Private Trust Co. NA now owns 491 shares of the transportation company’s stock worth $49,000 after purchasing an additional 300 shares during the period. Jones Financial Companies Lllp raised its position in shares of SkyWest by 117.2% during the 4th quarter. Jones Financial Companies Lllp now owns 832 shares of the transportation company’s stock worth $83,000 after purchasing an additional 449 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in SkyWest by 193.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company’s stock valued at $87,000 after purchasing an additional 569 shares during the last quarter. Institutional investors and hedge funds own 81.30% of the company’s stock.

SkyWest Price Performance

Shares of NASDAQ:SKYW opened at $103.26 on Monday. SkyWest, Inc. has a twelve month low of $64.61 and a twelve month high of $135.57. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 13.29 and a beta of 1.90. The business has a 50 day moving average price of $93.34 and a 200 day moving average price of $100.23. The company has a quick ratio of 0.68, a current ratio of 0.78 and a debt-to-equity ratio of 0.89.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, April 24th. The transportation company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.38. The company had revenue of $948.46 million during the quarter, compared to the consensus estimate of $946.13 million. SkyWest had a return on equity of 14.17% and a net margin of 9.15%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the company earned $1.45 EPS. Research analysts predict that SkyWest, Inc. will post 9.01 earnings per share for the current year.

SkyWest announced that its board has approved a share repurchase program on Wednesday, May 7th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the transportation company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

SKYW has been the topic of several recent analyst reports. Wall Street Zen raised SkyWest from a “hold” rating to a “buy” rating in a report on Friday, May 16th. The Goldman Sachs Group upgraded shares of SkyWest from a “neutral” rating to a “buy” rating and lowered their price target for the company from $119.00 to $117.00 in a report on Tuesday, April 8th. Finally, Raymond James decreased their target price on shares of SkyWest from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd.

Insider Activity

In other news, insider Wade J. Steel sold 15,000 shares of SkyWest stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $101.02, for a total value of $1,515,300.00. Following the completion of the sale, the insider now directly owns 119,416 shares of the company’s stock, valued at approximately $12,063,404.32. This trade represents a 11.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Russell A. Childs sold 17,000 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $100.91, for a total value of $1,715,470.00. Following the transaction, the chief executive officer now directly owns 449,242 shares in the company, valued at $45,333,010.22. This trade represents a 3.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,000 shares of company stock worth $4,994,520. Corporate insiders own 2.00% of the company’s stock.

About SkyWest

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.