SG Americas Securities LLC Purchases New Shares in SkyWest, Inc. (NASDAQ:SKYW)

SG Americas Securities LLC acquired a new stake in shares of SkyWest, Inc. (NASDAQ:SKYW) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 11,522 shares of the transportation company’s stock, valued at approximately $1,007,000.

Other hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in shares of SkyWest in the first quarter valued at about $27,000. NBC Securities Inc. bought a new stake in SkyWest in the 1st quarter worth about $32,000. New Age Alpha Advisors LLC purchased a new stake in SkyWest in the 4th quarter valued at about $39,000. Headlands Technologies LLC bought a new position in shares of SkyWest during the 4th quarter worth approximately $45,000. Finally, Private Trust Co. NA lifted its position in shares of SkyWest by 157.1% during the 4th quarter. Private Trust Co. NA now owns 491 shares of the transportation company’s stock worth $49,000 after buying an additional 300 shares in the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

SkyWest Trading Down 1.5%

Shares of SKYW stock opened at $96.43 on Wednesday. The company has a 50 day moving average of $95.55 and a 200-day moving average of $99.61. The company has a quick ratio of 0.66, a current ratio of 0.76 and a debt-to-equity ratio of 0.84. SkyWest, Inc. has a 12-month low of $64.61 and a 12-month high of $135.57. The firm has a market cap of $3.90 billion, a P/E ratio of 11.03, a PEG ratio of 1.21 and a beta of 1.90.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Thursday, April 24th. The transportation company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.38. The business had revenue of $948.46 million during the quarter, compared to analyst estimates of $946.13 million. SkyWest had a return on equity of 15.41% and a net margin of 9.89%. SkyWest’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.45 earnings per share. Sell-side analysts anticipate that SkyWest, Inc. will post 9.01 earnings per share for the current year.

SkyWest declared that its Board of Directors has authorized a stock buyback plan on Wednesday, May 7th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the transportation company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at SkyWest

In related news, insider Wade J. Steel sold 15,000 shares of SkyWest stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $101.02, for a total value of $1,515,300.00. Following the completion of the transaction, the insider now directly owns 119,416 shares in the company, valued at approximately $12,063,404.32. The trade was 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, CFO Robert J. Simmons sold 17,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $103.75, for a total transaction of $1,763,750.00. Following the sale, the chief financial officer now directly owns 131,203 shares in the company, valued at $13,612,311.25. The trade was a 11.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,000 shares of company stock worth $4,994,520. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SKYW has been the subject 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. Raymond James Financial 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, The Goldman Sachs Group raised SkyWest from a “neutral” rating to a “buy” rating and decreased their target price for the company from $119.00 to $117.00 in a research report on Tuesday, April 8th.

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.