NBC Securities Inc. Takes Position in SkyWest, Inc. (NASDAQ:SKYW)

NBC Securities Inc. bought a new stake in SkyWest, Inc. (NASDAQ:SKYW) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 367 shares of the transportation company’s stock, valued at approximately $32,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Summit Global Investments lifted its holdings in shares of SkyWest by 22.6% in the 1st quarter. Summit Global Investments now owns 9,885 shares of the transportation company’s stock valued at $864,000 after purchasing an additional 1,824 shares during the last quarter. GAMMA Investing LLC raised its stake in SkyWest by 9,644.5% during the 1st quarter. GAMMA Investing LLC now owns 152,111 shares of the transportation company’s stock valued at $13,290,000 after acquiring an additional 150,550 shares during the last quarter. Versant Capital Management Inc raised its stake in SkyWest by 83.0% during the 1st quarter. Versant Capital Management Inc now owns 1,274 shares of the transportation company’s stock valued at $111,000 after acquiring an additional 578 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in SkyWest by 18.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,136 shares of the transportation company’s stock valued at $314,000 after acquiring an additional 481 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in SkyWest during the 4th quarter valued at approximately $3,574,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on SKYW shares. The Goldman Sachs Group raised SkyWest from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $119.00 to $117.00 in a research note on Tuesday, April 8th. Raymond James reduced their price objective on SkyWest from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Finally, Wall Street Zen raised SkyWest from a “hold” rating to a “buy” rating in a research note on Friday, May 16th.

SkyWest Stock Performance

NASDAQ SKYW opened at $95.81 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.68 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $94.73 and its two-hundred day moving average is $100.08. SkyWest, Inc. has a 12-month low of $64.61 and a 12-month high of $135.57. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 12.33 and a beta of 1.90.

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

SkyWest announced that its board has authorized a share repurchase program on Wednesday, May 7th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Robert J. Simmons sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $103.75, for a total value of $1,763,750.00. Following the sale, the chief financial officer now owns 131,203 shares in the company, valued at $13,612,311.25. This represents a 11.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Wade J. Steel sold 15,000 shares of the company’s stock in a transaction that occurred 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 owns 119,416 shares in the company, valued at approximately $12,063,404.32. This represents a 11.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,000 shares of company stock worth $4,994,520. Company 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.